Taxing Issues Affecting the Cannabis/Hemp Industries
Stacey Udell, Director of Valuation, Litigation and Forensics, HBK
We all know there are few certain things in life - and one is taxes. Due to cannabis being a Schedule I substance, it is subject to a greater level of income taxes and other taxes. Consumers are often subject to greater sales taxes. Why is this and what can be done about it?
With experience in business valuation, forensic accounting, economic damages and litigation support services spanning more than twenty years, Stacey serves as Director for the Mid-Atlantic Region. She has performed business valuations and provided litigation support and expert witness services for hundreds of clients over her career. Prior to joining HBK in 2017, she was a partner at a CPA firm where she provided accounting and tax services, in addition to valuation and litigation support services. Stacey earned her Bachelor of Science degree in Accounting from the University of Delaware and received the Accredited in Business Valuation and Certified in Financial Forensics designations from the American Institute of Certified Public Accountants (AICPA) and the Certified Valuation Analyst credential from the National Association of Certified Valuators and Analysts (NACVA). Stacey currently serves as leader of the New Jersey Society of Certified Public Accountants’ Cannabis Industry Group and board member of the New Jersey Collaborative Divorce Professionals Group. She has served on numerous committees, including those of the AICPA, NACVA, NACVA – New Jersey, and New Jersey Society of Certified Public Accountants, as well as being a published author on topics related to valuation, economic damages, family law, and the cannabis industry.