Current Tax Issues Facing The Cannabis Industry

Описание: As cannabis continues to be classified as a Schedule 1 controlled substance, the cannabis industry continues to be subject to the punishing provisions of Internal Revenue Code section 280E. Because of this, cannabis businesses are unable to deduct ordinary and necessary business expenses and cannot qualify for tax credits. And the Internal Revenue Service aggressively polices cannabis businesses' compliance with section 280E. In this video, we discuss the IRS' specialized attorneys who focus on cannabis tax enforcement. We also discuss the many failed attempts to escape the strictures of section 280E through litigation. And the potential avenues that cannabis businesses can take to productively handle tax controversies with the Internal Revenue Service.

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