Statute
IRC §280E
61 published works
Budding Trends
Will States with Adult-Use Marijuana Programs See a Renewed Surge Towards Medical Programs Following Rescheduling?
This is the fourth of 13 posts describing the impacts of marijuana’s rescheduling. An homage to Phish’s historic run at Madison Square Garden in the Summer of 2017, Budding Trends…
Canna Law Blog
IRC 280E Still Applies to Your Marijuana Business, Unfortunately
In the last year or two, we have seen a growing number of marijuana businesses take the position that IRC 280E no longer applies to them. Some of these businesses…
TaxSlaw
Bona Fide Debt Between Related Persons – Is it Enough to Charge Interest at the AFR? Maybe Not
By Louis Vlahos
Adequate Interest The IRS uses the applicable federal rate, or AFR, to determine whether a private debt transaction provides for adequate stated interest for various income or transfer[i] tax purposes.…
Cannabis Law Blog
President Trump Signs Executive Order To Reschedule Marijuana To Schedule III: Quick Takeaways for Cannabis Operators
Takeaways President Trump’s executive order significantly accelerates the long-stalled federal process to reschedule marijuana to Schedule III. Rescheduling could eliminate Internal Revenue Code Section 280E, fundamentally changing the tax economics…
Cannabis Law Now
ESOPs for Cannabis Companies
By Alan Kandel, Marshall Custer
Employee stock ownership plans (ESOPs) have been used as a business succession strategy by employers across many industries. In the cannabis industry, ESOPs have come and gone and come again…
Canna Law Blog
First Circuit Holds the Line Against Cannabis Businesses
In fall of 2023 I wrote about the lawsuit to end federal prohibition that wouldn’t really end federal prohibition. Last July, a federal district court ruled against Canna Provisions et…
Green Leaf Brief
Podcast: Denial of Tax Deductions for Marijuana Businesses – Who is this Inter-Loper to Section 280E?
By Douglas W. Charnas, McGlinchey
Has the Supreme Court’s opinion overturning the Chevron doctrine altered the landscape for the denial of tax deductions for marijuana businesses under Section 280E of the Internal Revenue Code? We…
Green Leaf Brief
Impacts of Cannabis Rescheduling on Bankruptcy
By McGlinchey
Despite the excitement of many over rescheduling cannabis from Schedule I to Schedule III, the move does not make cannabis “legal” unless it is produced, sold, and used within the…
Budding Trends
It Ain’t Over ‘til It’s Over: IRS reminds Taxpayers That Section 280E Applies to Marijuana Companies Until Rescheduling Becomes Law
This is a tax blog. Stay with me – it’s short. While marijuana advocates celebrate the potential rescheduling of marijuana from Schedule I to Schedule III, the taxman has made…
Green Leaf Brief
Paid or Incurred: Marijuana Rescheduling, Taxes, and Section 280E
Once rescheduling occurs (or possibly even before), the IRS may publish guidance on how rescheduling affects Section 280E and the deduction of marijuana-related expenses. In the meantime, cannabis businesses may…