Beginning January 1, 2023, the responsibility for collecting and paying the cannabis excise tax to the California Department of Tax and Fee Administration (CDTFA) shifts from distributors to cannabis retailers. What Must California Retailers Do Before January 1, 2023 In December 2022, CDTFA will automatically register cannabis retailers and microbusinesses that sell cannabis or cannabis products at […]
IRS Criminal Investigation Division Releases Its 2022 Annual Report On November 3, 2022 the IRS released the Criminal Investigation Division’s (CI) annual report, highlighting significant successes and criminal enforcement actions taken in fiscal year ending September 30, 2022. The IRS noted that a key achievement was the identification of over $31 billion in tax fraud and other […]
IRS Providing Tax Relief For Victims in Federal Declared Disaster Areas Did you miss the October 17, 2022 tax return filing deadline? Areas with a new filing deadline of February 15, 2023, include: Florida, Puerto Rico, North Carolina, South Carolina, Areas in Alaska identified under FEMA’s Major Disaster Declaration 4672 and Hinds County, Mississippi. The IRS announced on October […]
California Franchise Tax Board Provides Tax Relief For Hurricane Ian Victims The California Franchise Tax Board (“FTB”) announced on October 6, 2022 special state tax relief for taxpayers and businesses affected by Hurricane Ian. Taxpayers and businesses in presidentially declared disaster areas are granted an extension to Feb. 15, 2023, to file California tax returns on 2021 […]
This November, voters in five states—Arkansas, Maryland, Missouri, North Dakota and South Dakota—will decide on whether they want to legalize adult-use marijuana. The Growing Trend In Legalizing Cannabis – Current Standings: Medical marijuana is legal in 37 states. The medical use of cannabis is legal (with a doctor’s recommendation) in 37 states and Washington DC. […]
President Joe Biden announced on October 6, 2022 that he will pardon all prior federal offenses of simple cannabis possession. Under Federal law (Controlled Substances Act 21 U.S.C. 801) marijuana is designated as a Schedule I controlled substance due to the historical belief that it has a high potential for abuse, no currently accepted medical […]
On September 19, 2022, Governor Gavin Newsom signed several measures to strengthen California’s cannabis laws, expand the legal cannabis market and redress the harms of cannabis prohibition. In a press release issued by his office, Newsom stated “For too many Californians, the promise of cannabis legalization remains out of reach. These measures build on the […]
IRS Provides Tax Relief For Hurricane Ian Victims in the Carolinas The IRS announced on October 5, 2022 that Hurricane Ian victims throughout both North Carolina and South Carolina now have until February 15, 2023, to file various federal individual and business tax returns and make tax payments. This comes after the IRS announced on September […]
IRS Provides Tax Relief For Hurricane Ian Victims in Florida The IRS announced on September 29, 2022 that Hurricane Ian victims throughout Florida now have until Feb. 15, 2023, to file various federal individual and business tax returns and make tax payments. This comes after the IRS announced on September 27, 2022 that victims in […]
IRS Provides Tax Relief For Victims Of Alaska September 2022 Storms and Floods The IRS announced on September 27, 2022 that victims in parts of Alaska now have until February 15, 2023 to file various individual and business tax returns and make tax payments. This comes after the IRS announced on September 20, 2022 that […]
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