CannaCon Detroit 2019

CannaCon is the biggest marijuana business-to-business trade show in the nation. It first started in Seattle in 2014, has since spread, and is now being held in Detroit’s Cobo Hall, on June 20 & June 21.  Seminar speakers include CPAs and attorneys; topics addressed include tax planning strategies, licensing requirements, countering the threat of Big Pharma, and obstacles to banking.

As is known in the industry, IRC Section 280E prohibits the deduction of expenses, when in the business of trafficking in controlled substances.  The most recent Tax Court ruling, that of Harborside Health Center vs Commissioner of Internal Revenue, was an unfavorable one for the taxpayers.

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