The International Cannabis Bar Association (INCBA) is thrilled to announce the highly anticipated Cannabis Law Institute 2024 (CLI 2024), the marquee conference dedicated to advancing legal excellence in the rapidly evolving...more
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
More and more states across the South are adopting medical marijuana regimes. With this growth comes growing pains. One such pain for marijuana businesses is the tension between following state laws on a product that is still...more
I recently wrote about the Tax Court decision in Northern California Small Business Assistants Inc. v. Commissioner, which addressed whether Section 280E’s denial of tax deductions to marijuana businesses violates the Eighth...more
I have written before about the battles being fought by cannabis businesses facing IRS examinations. IRS audits raise many issues for state legal cannabis businesses operating in violation of the Controlled Substances Act....more
- Both Code sections end with a capital letter. - Both are in Subchapter B. - Both have to do with deductions. - Both treat certain types of businesses differently than others for no good reason. -...more