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With the enactment of the Medical Marijuana Regulation and Safety Act ushering in a comprehensive regulatory framework for state-sanctioned cannabis enterprises, California, the country’s largest cannabis market, will require businesses to have one of 17 new state licenses.
Demonstration of historical and on-going compliance with California’s sales and use tax law as of Jan. 1, 2016, and a seller’s permit from the State Board of Equalization are integral to an applicant receiving priority licensure and maintaining annual renewals.
In the session “How California Sales and Use Tax Law Can Prevent Your Business From Obtaining a State License” at the California Cannabis Business Expo on March 5, Mike Parnes will discuss California’s sales and use tax law’s applicability to cannabis-related businesses.
Parnes is an associate attorney at Barth Daly LLP in Sacramento, California, representing private and public sector clients in various legal disputes focused on business litigation and state and local tax. Parnes has written articles on the income taxation of legal cannabis. His session at the CCBE will cover substantial nexus, taxability, exemptions and sourcing. Parnes will finish with a real-world example, options available to become compliant while minimizing cost and a brief Q&A.
The California Cannabis Business Expo follows MJIC Media’s inaugural event, the Marijuana Investor Summit in Denver in April 2014, which drew more than 1,000 people and 100 exhibitors. The California Cannabis Business Expo in San Francisco is a unique opportunity to learn about the state of cannabis in California directly from those shaping the legal landscape.
Tickets to the California Cannabis Business Expo in San Francisco can be purchased online.