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Marijuana Related Businesses › Tax Cuts and Jobs Act

Miller Canfield

Does a Tax Cut Jobs Act Provision Decrease Income Taxes on Marijuana Businesses?

Miller Canfield on

Key Takeaways: ..A pending U.S. Tax Court case presents an interesting theory to preclude the federal income tax disallowance of all deductions of a marijuana business. ..The theory rests on a provision in the 2017 Tax...more

Rivkin Radler LLP

If You Sell Marijuana In Any Form, Uncle Sam Wants His Cut

Rivkin Radler LLP on

More and more states across the country are legalizing the sale of marijuana products for medical and/or recreational purposes, but marijuana remains effectively prohibited under federal law as a Schedule I controlled...more

Rosenberg Martin Greenberg LLP

Can Cannabusinesses Qualify for the New Tax Incentives in Opportunity Zones?

Rosenberg Martin Greenberg LLP on

One of the key provisions of the Tax Cuts and Jobs Act of 2017 was the creation of additional tax incentives for investment in opportunity zones. For those with significant unrealized gains, the potential deferral or...more

Rosenberg Martin Greenberg LLP

Are Owners of Cannabusinesses Eligible for the Qualified Business Income Deduction Under Section 199A?

Rosenberg Martin Greenberg LLP on

Section 199A of the Internal Revenue Code, introduced by the Tax Cuts and Jobs Act (“TCJA”), created an opportunity for business owners to substantially lower their income taxes. Subject to many qualifications, beginning in...more

Burns & Levinson LLP

Sections 199A and 280E: So Much In Common?

Burns & Levinson LLP on

- 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

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