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Foley Hoag LLP

Recent Updates on the Applicability of IRC Section 280E to Cannabis Companies

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Cannabis companies are increasingly taking non-280E positions on their current year federal income tax returns, while many, such as public “MSOs,” have amended prior years’ returns to reflect this position. Foley Hoag’s Tax...more

Foley Hoag LLP - Cannabis and the Law

Treasury Report Recommends Increased Audits of Cannabis Companies and Highlights Potential Section 280E Relief

Foley Hoag LLP - Cannabis and the Law on

On March 30th, the Treasury Inspector General for Tax Administration (“TIGTA”) released a report which concluded, based on its estimates, that the IRS could have collected significant additional tax revenue from cannabis...more

Seyfarth Shaw LLP

Section 280E – Why Are We Still Having This Discussion?

Seyfarth Shaw LLP on

If you are in the cannabis industry, you should already know Section 280E of the Internal Revenue Code. It consists of only one sentence...more

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