Categories: aggregated

What is the IRS 280E Tax Code and Why is It Killing the Marijuana Industry Right Now?

However, there is a cumbersome issue that bothers every cannabis entrepreneur in the country, regardless of their state’s laws. This issue revolves around Section 280E, Tax code. This tax law has made running a canna business very hard for people who have no idea how to navigate around it. The IRS claims that all canna-businesses are illegitimate at the federal level, even though some states have legitimized it. Hence these businesses are unable to subtract most incurred expenses when filing their taxes except the cost of the products sold.

Jason

Share
Published by
Jason

Recent Posts

Why Does Cannabis Make Exercise So Much More Rewarding?

As we wrap up our deep dive into cannabis and exercise, I can't help but…

1 day ago

LA’s cannabis community steps up for wildfire relief

Follow our links to verified aid groups. The post LA’s cannabis community steps up for…

4 days ago

America’s Constitutional Conundrum: Guns and Ganja

As you might imagine, telling Americans they can't have their guns AND their ganja isn't…

4 days ago

Meet the new and improved home of the growers, ILGM

The new ILGM is a veritable treasure trove of expert knowledge that’ll help you find…

5 days ago

No Smoking, No Vaping – What’s the Safest Way to Consume Cannabis Based on Your Genetics and Science?

edibles, tinctures, beverages, and cannabis oil to name a few. Now, the results of a…

5 days ago