Cannabis Tax Services

Cannabis Tax Services

Cannabis Tax Services From Leaders in the Field

the inside of a dispensary
Since 2009, BGM’s tax professionals have been helping cannabis organizations understand all of the unique tax issues they face. One of the first accounting and advisory firms to enter the industry, we’re uniquely positioned to understand the nuances involved in remaining compliant.
Our Minnesota-based firm has developed and implemented customized tax strategies for more than 600 cannabis-related businesses nationwide, including:
  • Cultivators
  • Delivery services
  • Dispensaries
  • Farms
  • Intellectual property companies
  • Management companies
  • Processors
We’re constantly monitoring the changing marijuana tax landscape so you don’t have to. We also collaborate with some of the top 280E attorneys in the US. This helps our team provide forward-thinking advice and solutions to help you achieve your financial and operational objectives.
01 Our Cannabis Tax Services

When you work with the BGM team, you gain a partner that’ll provide year-long guidance to help you attain your goals. We’ll thoroughly review your financial position to develop the most effective and beneficial tax strategies for your cannabis business.

02 Cannabis State and Local Tax Services

BGM offers a full range of state and local cannabis tax and accounting services to CBD, hemp, medical marijuana, recreational marijuana and related organizations:

  • Apportionment and allocation review
  • Compliance requirements
  • Consolidated tax returns
  • Deferred compensation
  • Entity selection and structuring
  • Federal, state and local tax reporting
  • Mergers and acquisitions
  • Multi-state tax returns and tax strategy
  • Nexus requirements and planning
  • Property tax compliance
  • Reorganization (LLC to corporation or not-for-profit to corporation)
  • Representation before federal and state tax authorities
  • Sales, use and local tax review
  • State and local tax incentives
  • State tax audits
  • Tax planning
  • Transaction structuring
  • Unitary taxation
03 Cannabis International Tax Services

BGM can assist you with business decisions on foreign transactions and reporting to help make your international cannabis business operations a success. Our international tax services for hemp, CBD, medical marijuana, recreational marijuana and other cannabis businesses include:

  • Foreign tax credits
  • Foreign tax filings
  • Joint ventures
  • Recruiting assistance and legal and banking contacts
  • Structuring repatriation
  • Tax equalizations and tax incentives

Moreover, BGM is a member of MGI Worldwide, a top 20 international accounting network of independent audit, tax and accounting firms. MGI greatly expands our international client service capabilities and helps us stay current on accounting, audit, tax and advisory developments.

MGI member firms are recognized for their high-quality service, professional commitment and integrity. Through this organization, we’ve established relationships with trusted professionals around the globe. These give us unique access to local perspectives on many issues that confront international cannabis entrepreneurs.

04 Cannabis 280E Mitigation Services

The BGM tax team has worked with hundreds of organizations and has been through dozens of IRS and State 280E audits. Our cannabis and marijuana tax accountants have been instrumental in developing comprehensive tax strategies to maximize 280E and improve profitability and cash flow.

We’ll work with you to ensure state and federal compliance with existing tax laws. We’ll also aggressively identify and pursue refund opportunities for prior periods and 280E minimization strategies.

Additionally, our experts have testified in various states to allow cannabis organizations to deduct 280E on their state tax returns. Our cannabis tax accountants and professionals also work alongside other state organizations to lobby for state tax law modifications.

When it comes to knowing this industry and pursuing the best results for cannabis businesses, no team does it better than BGM.

The BGM Benefit

At BGM, we believe in going beyond the traditional role of accountant and tax advisor. You’ll be assigned a dedicated team and can expect to experience a hands-on approach from your financial professionals. Plus, you’ll receive timely and proactive advice and solutions. It’s this high level of personalized service that keeps our accounting and advisory firm leading the way in the cannabis industry.

Connect With an Industry Advisor

We offer a complimentary initial consultation to discuss your needs. Reach out to learn more or schedule a meeting to get started.
Calvin Shannon

Calvin P. Shannon, CPA, CVA

Principal, Consulting Practice Leader

E cshannon@BGM360.com
P 952.844.2500
Bio

“BGM” is the brand name under which BGM CPA, LLC and BGM Group, LLC provide professional services. BGM CPA, LLC and BGM Group, LLC practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. BGM CPA, LLC is a licensed independent CPA firm that provides attest services to its clients, and BGM Group, LLC and its subsidiary entities provide advisory, and business consulting services to their clients. BGM Group, LLC and its subsidiary entities are not licensed CPA firms. The entities falling under the BGM brand are independently owned and are not liable for the services provided by any other entity providing services under the BGM brand. Our use of the terms “our firm” and “we” and “us” and terms of similar import, denote the alternative practice structure conducted by BGM CPA, LLC and BGM Group, LLC.

BGM WEALTH: Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

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