Cannabis Law: Taxation, M&A, and Compliance Strategies

William Wolfe | Syracuse University

William, a native of Chicago, graduated from the College of Law in 2020. Alongside his Juris Doctor (J.D.), William achieved a certificate for completing the Advocacy & Litigation Curriculum program. He was also honored with admission to the Order of the Barristers, co-recipient of the Paul Shipman Andrews award, and awarded the “Outstanding Graduate” accolade for the class of 2020.

During his time in law school, William was a member of the Travis H. D. Lewin Advocacy Society, where he was a member of the ABA Arbitration Team and the BLSA Mock Trial Team. William also played pivotal roles within the Black Law Students Association (BLSA), serving as Social Chair from 2018 to 2019 and as President from 2019 to 2020.

Following graduation, William secured a position at Harris Beach PLLC, specializing in bankruptcy, creditors’ rights, litigation, and insolvency law. He also engaged in handling regulatory matters and litigation concerning New York State’s legalization of adult-use cannabis. Additionally, William serves on the Board of Directors for both ACR Health, Inc. and the Frank H. Hiscock Legal Aid Society.

William currently serves as Assistant General Counsel at Syracuse University in the Office of University Counsel. He is a frequent speaker on cannabis-related topics and regularly contributes articles on licensing procedures and legislative developments in the field.

Jill Scher | CBIZ, Inc.

Jill Scher, CPA, MS, brings over 25 years of experience in public and private accounting. She has worked with midsize businesses across industries such as cannabis, manufacturing, technology, life sciences, pharmaceuticals, and green energy. Jill specializes in tax compliance, consulting, transaction structuring, and representation. She frequently speaks on tax strategies, incentives, planning, and professional ethics.

Jill serves on the Board of the Long Island Capital Alliance (LICA) and the financial committee of the Tesla Science Center. She previously served as a Director on the Board Nassau Chapter of the New York State Society of CPAs. Jill holds a BS in Accounting and an MS in Taxation from the State University of New York at Albany.

Jill is currently with CBIZ Inc., which acquired Marcum LLP. CBIZ is a leading provider of accounting, tax, advisory, insurance, and HR solutions, with over 10,000 employees and more than 100 offices worldwide. CBIZ helps clients manage finances, reduce risk, and improve performance.

Patrick O’Reilly | CBIZ, Inc.

Patrick O’Reilly is a managing director in the Firm’s Financial Accounting and Advisory Services (FAAS) Practice and the New England Food & Beverage Industry leader.

Patrick serves his clients by managing all aspects of their accounting and finance operations, with an emphasis on improving internal controls and operational efficiency. His over 30 years of relevant experience covers nearly all aspects of public accounting. His experience also includes food and beverage, cannabis, real estate management, medical practices, law firm administration, architecture and engineering firms.

Patrick is knowledgeable in taxation, business plan formulation and implementation, human resources management, payroll, benefits administration, insurance, retirement plans, and all manners of financial accounting software applications. He primarily functions as an outsourced CFO or Controller to clients of varying sizes. The work performed is often an outsourced placement but can be applied in interim situations as well and service levels can be scaled up or down depending on the needs. Patrick and his wife own a local restaurant and bar in Scarborough, ME where they live and he is an active multi-sport high school official.

Session I – Cannabis Taxation: Navigating the Complex Legal Landscape | 1:00pm – 2:00pm

• Evolving Legal Landscape in Cannabis M&A
• Market Trends and Deal Structures in Cannabis M&A
• Identifying and Addressing Legal Pain Points
• Transferring Licenses in Cannabis M&A
• Intellectual Property (IP) Protection in Cannabis Transactions
• Valuation of Cannabis Assets
• Key Provisions in Cannabis M&A Agreements

Break | 2:00pm – 2:10pm

Session II – Cannabis Tax Compliance: Practical Strategies for Cash-Based Operations | 2:10pm – 3:10pm

• Understanding IRC Section 280E Compliance
• Cash Management Best Practices
• Tax Treatment of Different Cannabis Products
• Audit Preparation Strategies
• Developing an Internal Control Framework
• Navigating State-Specific Tax Regulations