Allowable Depreciation Methods for Cannabis Companies

Wednesday, June 23, at 10:30 AM – 11:30 AM (MT)

Cannabis Extraction Equipment

How much depreciation is allowed for cannabis companies? The answer depends on several factors, and the type of cannabis business you are operating can significantly affect the amount of depreciation you can deduct. On Wednesday, June 23, 2021, at 10:30 AM (MT), Jim Marty, CEO of Bridge West, and Calvin Shannon, Principal with Bridge West, addressed which depreciation expenses the IRS allows cannabis companies to deduct.

Webinar attendees learned:

  • What depreciation methods are allowed?
  • Is immediate expensing under IRC Section 179 allowed?
  • Is bonus depreciation available to cannabis companies?
  • What are the differences in allowed depreciation deductions between cultivators, extractors, and dispensaries?

Bridge West closely monitors the new 2021 U.S. Congress and the related updates regarding changes to the amount of depreciation allowed for cannabis businesses. Since 2009, our team of experienced accounting and tax advisors has been serving cannabis businesses nationwide, and we serve over 600 license holders. If you have questions or would like to discuss this topic further, we invite you to schedule a complimentary consultation with a member of the Bridge West team.