AICPA to Host Webcast on Legalized Marijuana

As of last week, laws legalizing recreational marijuana use have gone into effect in four states, with nearly half of the states already having medical marijuana laws on the books. Professional service providers, including CPAs, are increasingly weighing if they want to serve these new businesses being created by this evolution in state drug policy.

But there are serious risks and challenges: federal law still classifies the production, distribution, sale and use of marijuana as illegal, and many regulatory bodies in states where the drug has been legalized at the state level have yet to provide guidance to businesses on the issue.

To help practitioners assess their options, the American Institute of CPAs is offering a March 5 webcast, Understanding the Impact of Legalized Marijuana on the CPA Profession. A panel of experts from the AICPA, plus a representative from Aon Corp., will discuss implications from an ethics, tax, auditing and attest services, and insurance standpoint. The webcast will also offer an overview of recent legal and regulatory developments, including legalization in Alaska, Colorado, Oregon and Washington state.