Insight magazine interviewed Assurance Partner Neil Prasad about CPA services to the cannabis industry, for an article about growth industries in Illinois.
By Mark Lawton
Neil Prasad, partner in the Chicago office of Marcum LLP, stresses that a thorough understanding of the cannabis industry is critical. Prasad has been working with cannabis cultivators and dispensaries across the U.S. for the last eight years and in Illinois for the last two. Specifically, he says CPAs need a complete understanding of Internal Revenue Code 280E, which prevents cannabis companies from taking tax deductions or credits.