Statute
IRC §280E
61 published works
Cannabis Law Blog
Even When Section 280E No Longer Applies to Cannabis Businesses, Another Tax Problem Will Remain
By Lance Boldrey, John Fraser, Scott Kocienski, Richard Lieberman
Much has been written over the last week about the recommendation by Attorney General Merrick Garland to loosen restrictions on cannabis. That recommendation would, among other things, reclassify marijuana from…
Regulatory Oversight
Tax Refunds for Cannabis Businesses? What Is the Story?
By Jean Smith-Gonnell, Randy Varner
In January, we published an article in this newsletter on the state of cannabis taxation, including a discussion of the crippling impact of Internal Revenue Code §280E (IRC §280E) on…
Regulatory Oversight
The Continuing Negative Impact of Federal and State Taxation on the Cannabis Industry; Where Do We Go from Here?
By Jean Smith-Gonnell, Randy Varner
The cannabis industry has experienced significant growth over the past decade, with increasing numbers of states legalizing both medical and recreational use. Currently, cannabis is legal for adults in 24…
Budding Trends
Blazing Trails: Exploring ESOPs in the Cannabis Industry
By Bradley
The budding cannabis industry, despite its rapid growth and gradual acceptance in recent years, still faces a major sustainability challenge: Cannabis businesses cannot deduct most ordinary business expenses. Under Internal…
Cannabis Law Now
Cannabis Banking: What’s a Financial Institution to Do Right Now?
By Former Attorney Hilary Bricken
When I started representing cannabis businesses in 2010, the biggest epidemic in the industry next to I.R.C. 280E was the overwhelming lack of cannabis banking. This inability to access financial…
Regulatory Oversight
HHS Proposes Rescheduling Cannabis to Schedule III – What It Means for the Industry
By Agustin Rodriguez, Jean Smith-Gonnell, Cole White
Introduction The cannabis industry in the U.S. is on the cusp of a potential transformation. On August 29, the U.S. Department of Health and Human Services (HHS) made a significant…
Canna Law Blog
Read This Before Selling Your Cannabis Business. Or Filing Your Next Tax Return
I’d like to send a shoutout to tax lawyer Nick Richards for an intriguing opinion piece published on Friday, September 1 in Marijuana Business Daily. Nick outlines two approaches to…
Canna Law Blog
Cannabis Taxation is Theft
Whether you’re the kind of person who wants to End the Fed, or the kind of person who wants to tax the rich like a Scandinavian nation, you’ll probably agree…
Cannabis Law Now
Alternatives to Bankruptcy for Cannabis Companies (Part 1)
The problems facing the cannabis industry arising from its ongoing status as a federally illegal enterprise are numerous and well documented: 280E tax burdens, limited access to banking, exclusion from…
Canna Law Blog
Webinar Takeaways: IRS Cannabis Taxes and Enforcement
On April 13th, I moderated a webinar about cannabis taxes called “IRS Enforcement of Cannabis Operators is Here – What Do We Do Now?“. Cannabis taxes should scare anyone in…