David will be speaking on two panels for the International Cannabis Bar Association. Register here for the day-long virtual event.
Ethics Rule 1.2: Complying With the Novel "Also Advise" Clause
Since the permitted scope of legal representation begins with this threshold requirement, hear from the panel about what "also advise" means in practice, including what federal laws are considered "related," how to determine if federal law "conflicts" with what your client seeks to do, and how to ensure you have adequately advised your client to comply with the new Rule 1.2 provision. Legitimacy of a cannabis company in particular; (ii) the importance of advising clients about best practices for effectively maintaining and enforcing corporate governance systems by, including, but not limited to, adhering to the often-overlooked federal guidelines from the United States Sentencing Commission; and (iii) the importance of implementing corporate governance controls and policies during a company's infancy; and (iv) lessons learned from high-profile cannabis companies whose poor corporate governance practices had damaging impact, including companies like Namaste Technologies.
Cannabis Taxation: Prepping for 28oe Audits and State Tax Issues
The IRS has started to staff their cannabis audit team, which portends a ramp-up of audit activity in the 2020 year and beyond. Simultaneously, we are seeing an uptick in state-level tax audits for cannabis industry market participants. Learn how to advise your clients to avoid additional scrutiny on the front end, how to prepare for an audit, and how to position your client for success post-audit. The panel will also take a look at novel state-level tax issues, such as potency tax, and how that changes the bottom line for our clients.