Steven Monacelli serves as a tax partner with an expertise in providing tax planning strategies and forward-thinking solutions to closely held companies, particularly to firms in the cannabis and real estate industries. He leads the Cannabis Team at Withum serving over 175 cannabis clients.
As a Certified Public Accountant, licensed in both Rhode Island and Florida, with more than 39 years of accounting, tax, and business consulting experience, Steven helps clients nationwide providing strategic direction to management with respect to their business growth and exit strategies.
Steven has provided firms in the U.S. cannabis industry value in accounting, tax, and consulting services since 2011. Steven has presented on accounting and tax issues confronting cannabis companies nationally. In addition, he has successfully represented business and individual clients with multinational interests, multistate taxation, and in complex tax examinations on federal and state levels and he assists business owners and corporate executives with personal financial planning designed to grow and protect their income and assets.
Steven’s areas of expertise are buying and selling businesses, procuring and negotiating financing alternatives, succession planning, including ESOP consulting, dissenting shareholder disputes and results-driven growth exit strategies for companies in the cannabis, real estate, professional services, private equity and manufacturing sectors.
Learn more about my professional experience and how I spend my time outside the firm.
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In 2015, Steven received a Certificate of Congressional Recognition in honor of being named one of the “Top Public Accounting Professionals for Rhode Island”
He enjoys traveling, has a love of cars, and considers himself a “gym rat”.
On April 22, 2026, the U.S. Department of Justice (DOJ), through the Drug Enforcement Administration (DEA), issued a final order rescheduling certain marijuana-related products from Schedule I to Schedule III of the federal Controlled Substances Act (CSA). While this action is limited in scope, it carries significant regulatory and federal tax implications, particularly for state-licensed…
What the Hemp? is Withum’s newest podcast series, driving the conversation around the ever-evolving cannabis industry.
On December 18, 2025, President Trump signed an Executive Order directing the Attorney General to expedite rescheduling marijuana to Schedule III under the Controlled Substances Act. This marks a historic shift in federal policy and sets the stage for significant changes in research, compliance and taxation. Key Points from the Executive Order What This Means…