Tag: 280e
How to Successfully Navigate an IRS Audit in the Cannabis Industry
IRS audits involving the Bank Secrecy Act (BSA) and the infamous tax code 280E are ramping up throughout the nation, and if operators aren’t...
Tax Breaks Remain Elusive
Of all the challenges cannabis companies face as they fight for survival and market share in 2022, the tax man remains one of the...
Federal Tax Deductions: On the Horizon or Merely a Mirage?
It would be an understatement to say the federal government has been harsh on state-legal cannabis companies, whether by denying them federal tax deductions...
Will 2021 Bring Federal Tax Relief?
There’s no quicker way to get a rise out of a cannabis business owner than to mention Section 280E, the dreaded Internal Revenue Service...
What Interstate Commerce Could Mean for Employers
Cannabis legalization is continuing to spread across the country. Five new states joined the list in 2020; every ballot measure seeking to expand medical...
Have You Been Dumped by Your Payroll Provider?
Mainstream payroll providers are dropping legal cannabis companies left and right. Often, the decisions result from state or federal banking and tax regulations.
For many...
Cannabis Industry Reacts After Gov. Newsom Signs Bill to Bring Tax Relief
Making it in the cannabis industry is notoriously difficult, but a new bill signed by Governor Gavin Newsom (D-Calif.) could make things a bit...
IRS Uses 280E to Go After State Legal Cannabis Businesses on Taxes
The complex issue of cannabis taxes just got a bit more confusing for some Colorado businesses.
The IRS has started audits on cannabis businesses in...
