Cannabis Business Accountants in Georgia

Key Points:

• Tax Rates: Georgia lacks a cannabis-specific tax due to its low-THC-only program, with medical marijuana patients paying the standard 4% state sales tax on low-THC oil.
• Services Specific to Cannabis Businesses: Cost segregation, tax credits, and tax planning.

Understanding a Cannabis CPA

A certified public accountant with expertise in the specific financial and tax challenges faced by cannabis businesses. They possess an in-depth knowledge of both state and federal laws, particularly the complexities surrounding tax code 280E.

• All cannabis businesses, including dispensaries and manufacturers, need the expertise of accountants or fractional CFOs due to the complex regulatory landscape of the cannabis industry.

• Are you a Georgia-licensed CPA offering services to cannabis-related businesses? Request to be listed .

Tax Rates for Cannabis Businesses in Georgia

Georgia has no specific cannabis tax in place, as its program is limited to low-THC oil and excludes other cannabis products. Registered medical marijuana patients in Georgia are legally permitted to hold up to 20 fluid ounces of low-THC oil. When purchasing this oil, they are charged the standard state sales tax of 4%.

Services Specific to Cannabis Businesses

Cannabis businesses may require additional services due to heightened regulatory challenges:

• Cost Segregation Studies: Reclassifying assets to maximize deductions.
• Tax Credits & Incentives: Identifying available tax credits and incentives specific to cannabis.

Why Work with a Cannabis CPA in Georgia?

Specialized accountants bring industry-specific expertise crucial for cannabis businesses:

• State Law Knowledge: Cannabis CPAs understand Georgia's cannabis laws, ensuring regulatory compliance.
• Tax Expertise: With knowledge of 280E, they help optimize tax strategy to meet complex taxation requirements.
• Industry Insight: Their familiarity with the cannabis market helps guide financial decisions and improve profitability.