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The 2018 Farm Bill – What it Means for Hemp Farmers’ Tax Bill

CPA Covers The Income Tax Implications for Hemp Farms after the new 2018 Farm Bill The Agriculture Improvement Act of 2018 (the 2018 Farm Bill) has officially been signed into law.  One of the major components of this legislation of industrial hemp. …

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How to Convert a California Nonprofit Mutual Benefit Corporations to a For-Profit Corporation under Proposition 64

Law Prior to 2018 - Non-Profit MBCs Ruled Medicinal cannabis businesses in California generally operated as nonprofit mutual benefit corporations prior to 2018. Although these medicinal cannabis businesses formally are incorporated as nonprofit mutual benefit corporations, they do not meet the requirements for income tax exemption described…

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