+ Federal tax compliance

Marijuana is currently considered an illegal Schedule I substance by the federal government of the United States. As a participator in the cannabis industry, you must nonetheless file a federal tax return for yourself, as well as your business. Due to its federal designation, participants in the cannabis industry must use the 280e designation on their filings to the IRS which disallows many common business deductions. Finding this confusing? Don’t worry – our experts in the field will help you navigate this tricky area and save you from the headache and hassle!

+ State tax compliance

State tax laws on marijuana are a little more lenient then federal. Many states with medical and adult-use legalization of cannabis offer all of the tax benefits of running a typical small business. On the other hand, some states have cannabis in a grey zone – legal for medical consumption, illegal for adult-use and unsure how to go about regulating either. At Greenbooks, we will assist you in guiding the minefield of use tax, excise tax, income tax, sales tax and everything else required by the state to make sure you stay complaint and up to date.