Nick Richards

Overview

Nick Richards is an experienced tax attorney, partner, and co-chair of the Cannabis Law practice group at Greenspoon Marder LLP. As a tax controversy attorney, he represents individuals and businesses in tax audits & trials, M&A, and in managing tax debt. He also advises cannabis companies, owners and investors regarding tax and regulatory compliance matters. Mr. Richards has been a tax attorney for more than twenty years beginning his career with the IRS where he was a leading trial attorney, a Chief Counsel advisor, and a Special Assistant United States Attorney.

With his broad experience and understanding at all phases of the tax system, from reporting and assessment through appeals, court, and tax debt resolution, Mr. Richards achieves successful legal solutions tailored to his individual client’s needs. Mr. Richards also teaches tax attorneys and CPAs throughout the US and he is an Adjunct Professor of Law at the University of Denver, Graduate Tax Program.

Taxes can be stressful and Mr. Richards’ clients find relief in his broad experience in the IRS and in representing taxpayers large and small. He understands the tax system, provides informed advice, and protects taxpayers from the mistakes and missteps of those less experienced. Several years after leaving the IRS, he represented a Colorado cannabis company in one of the first IRS audits in the legalized industry. Since that ground-breaking case, he has gone on to successfully represent companies in many cities, states, courts and before the federal government. In addition to tax audits, trials and collections, he is widely recognized as a leading cannabis industry attorney and has extensive experience in IRC Section 280E and BSA cash reporting requirements. His knowledge of the tax system is essential when advising business owners and investors, particularly in mergers, acquisitions and entity formation.

Nick Richards is a father of two young children, a proud husband, a music fan, and he enjoys the outdoors when not fighting for his clients.

Court Admissions

United States Tax Court
Colorado
California

Bar Admissions

Colorado
California

Education

J.D., Lewis & Clark College, 1998
B.A., University of California, Santa Barbara, 1995

Experience

Professional and Community Involvement

AICPA & CIMA, Member
Bhang Corporation, Board of Directors
University of Denver, Adjunct Professor of Law
Cannabis Certification Counsel, Board Member
Cannabis Growth Opportunity Corp, Board Member
California State Bar, Member
Colorado State Bar, Member
ABA Tax Section, Member
National Cannabis Industry Association, Member
Future Tax Leaders, Member
AICPA Cannabis Expert Panel

Speaking Engagements

Speaker, “Does Section 280E Still Disallow Cannabis Company Deductions?” Oregon State Bar Association, Cannabis and Psychedelics Section, November 13, 2024
Speaker, “High Stakes Finance: Mastering Cannabis Accounting and Tax Hacks,” 7th Annual CLAB Conference + Expo, Hollywood, FL, October 15, 2024
Speaker, “Credit Risk and Rescheduling: The Impact on Cannabis Company Borrowing,” Benzinga Cannabis Capital Conference, Chicago, IL, October 8, 2024
Speaker, Webinar, NY OAG CLE, “Worker Safety, Cannabis, and Hazardous Industries, July 11, 2024
Speaker, “Current Methods to Reduce Section 280E,” NJCPA, Cannabis Interest Group Meeting, June 25,2024
Speaker, “How Brands Can Break into the Garden State”, Benzinga Market Spotlight: New Jersey, June 17, 2024
Speaker, “Decoding 280E and Current Developments,” Summit Virtual CFO by Anders, June 12, 2024
Speaker, “Marijuana Tax Issues and Reporting Requirements,” Lorman Education Services, June 6, 2024
Speaker, “How Tax Policy is Affecting the Future of Cannabis,” Weed Wonks, April 24, 2024
Speaker, “Trulieve Cannabis Corp. Receives Tax Refunds: What Does This Potentially Mean & What’s Next?” BGM, March 13, 2024
Speaker, “Worker Safety, Cannabis, and Hazardous Industries,” Practicing Law Institute (PLI), February 21, 2024
Speaker, “Current Tax Landscape of the Cannabis Industry,” ABA Midyear Tax Meeting,” January 19, 2024
Speaker, “Navigating IRS Corporate and High-Income Taxpayer Audits: Key Areas of Focus for Examinations, Pitfalls to Avoid,” Strafford, January 9, 2024
Speaker, “Tax Planning for Cannabis M&A Transactions: Existing Regulatory Landscape, Deal Structures, IRC Section 368, and More,” Strafford, November 14, 2023
Speaker, “CAN2316. Taxes: Part 2,” AICPA & CIMA Cannabis Industry Conference, August 16, 2023
Speaker, “Tax and Legal Challenges in the Cannabis Industry,” SALTovation, May 11, 2023
Speaker, “EYG Live @ Benzinga,” CannabisLab, April 17, 2023
Speaker, “MSO Tax Roundtable: Developments, News, Insights, & Questions on All Things Tax-related in The Cannabis Industry,” Columbia Care, September 19, 2022
Speaker, “What if 280E Goes Away?,” CalCPA’s Cannabis Business Virtual Symposium, August 6, 2021
Speaker, “Navigating the 280E Tax Burden,” 2021 New Jersey Society of Certified Public Accountants (NJCPA) Cannabis Conference, August 5, 2021
Speaker, “Cannabis Taxation Compliance: 280E Changes” Emerge Virtual Cannabis Conference & Expo, June 23, 2021
Speaker, “Tax Conference, 33rd Annual” ICLE, May 27, 2021
Speaker, “What 280E is NOT Attacking – Emerging Cannabis Industry Tax Trends” GM Webinar, May 18, 2021
Speaker, “Cannabis Industry Finances & Legal Update” Jewish Federation of Broward County, April 20, 2021
Speaker, “280E: The Tax Man’s Marijuana Secrets” Marijuana Business Daily, April 15, 2021
Speaker, “Cross-Border Cannabis Issues,” GM Webinar, March 24, 2021
Speaker, “280E Regulations & How to Lower Your 280E Tax Burden,” November 12, 2020
Speaker, “How to Excel in Tax and Business,” TaxForward’s 4th Annual Conference, October 19, 2020
Speaker, “Clearing the Haze Around 471(c),” BBB Virtual Conference, August 5, 2020
Presenter, “IRC 471(c) and the Future of IRC 280E,” June 26, 2020
Presenter, “Basics of Civil Tax Controversy and Procedure,” Master Tax Mixer, June 24, 2020