What is Section 280E of the IRS Tax Code, and how does it affect Cannabis Businesses?
Автор: National Cannabis Industry Association
Загружено: 2018-04-16
Просмотров: 7312
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As tax season officially concludes, many cannabis businesses are feeling the burden of Section 280E. In the 29 states plus D.C. where cannabis legal, businesses are legitimately growing it, selling it, and everything in between. The cannabis industry continues to grow and thrive as more states legalize medical or adult-use programs, creating new business opportunities and new jobs in their communities. But a little-known provision of the IRS Tax Code called Section 280E makes it difficult for these cannabis business owners to truly thrive. Imagine being taxed 3.5 times or higher than the normal business tax rate.
Learn more about Section 280E and how it impacts cannabis businesses.
Join us at NCIA's 8th Annual Cannabis Industry Lobby Days on May 21-23, 2018: www.thecannabisindustry.org/LobbyDays2018
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