CPAs Seeking Guidance on Serving Marijuana-Related Businesses as More States Consider Legalization Proposals
June 1, 2016
This November, voters in at least three states – California, Maine, and Nevada – will decide whether marijuana should be legalized for recreational purposes. More states are likely to vote on the issue this year as well, with over 40 other marijuana-related proposals in 13 additional states currently in the certification process.
As more states legalize marijuana for recreational and medicinal purposes, business in this industry are increasingly looking to CPAs for a number of services, including accounting, audit, tax, and consulting services. In turn, those CPAs are looking to their state boards of accountancy for guidance on whether offering such services is permissible.
Eight state boards have already adopted such guidance: Arizona, Colorado, Connecticut, Florida, Maryland, Nevada, Oregon, and Washington. The AICPA has developed several resources, including key policy suggestions, for other state boards wishing to do the same. Visit aicpa.org/marijuana for more information.
