Sometimes, reading what’s coming out of Washington makes you wonder if politicians are smoking something way stronger—and way more toxic—than what’s sitting on dispensary shelves. Case in point: A rogue squad of Republican lawmakers is currently on a bizarre crusade to hike up taxes on state-legal cannabis businesses. Yeah, you read that right. Now, if you’ve been paying … [Read more...] about Make the Black Market Great Again? Why Some Politicians Want to Tax Your Dispensary into Oblivion
280E
The Waiting Game: Is Federal Rescheduling the Fix Connecticut’s Cannabis Market Needs?
For Connecticut’s cannabis entrepreneurs, the buzz surrounding the potential federal move to reclassify marijuana from Schedule I to Schedule III is palpable. It is being hailed as a historic milestone, but if you talk to those on the ground—the business owners, policy experts, and dispensary managers—the mood is less of a victory lap and more of a cautious "wait and see." … [Read more...] about The Waiting Game: Is Federal Rescheduling the Fix Connecticut’s Cannabis Market Needs?
Who Gets a Seat at the Table?
The biggest question in cannabis rescheduling isn't what gets said at the DEA hearing—it's who gets invited to speak.The DEA is expected to finalize the participant roster for its June 29 marijuana rescheduling hearing by June 22. That list will determine which voices shape the official record and influence the future of federal cannabis policy.Industry advocates argue the … [Read more...] about Who Gets a Seat at the Table?
280E in the Spotlight: GOP Questions Cannabis Tax Relief
Some Republican lawmakers are pushing back against a major consequence of federal cannabis rescheduling: tax relief for legal marijuana businesses.Under the proposed changes, cannabis companies could finally access many of the same business deductions and credits available to other industries—potentially ending years of punitive treatment under IRS Section 280E. But critics in … [Read more...] about 280E in the Spotlight: GOP Questions Cannabis Tax Relief
The IRS Has a Message for the Cannabis Industry: Nice Try on the Taxes
Cannabis companies have spent years trying to escape one of the industry’s biggest financial headaches: Section 280E of the federal tax code. So far, the IRS isn’t budging.In a new court filing, the Internal Revenue Service pushed back against a cannabis company’s argument that it shouldn’t have to follow the rule that blocks marijuana businesses from claiming many normal tax … [Read more...] about The IRS Has a Message for the Cannabis Industry: Nice Try on the Taxes
280E Tax Relief?
The cannabis industry is finally enjoying some major federal policy momentum with efforts underway to reclassify marijuana under federal law. Advocates and operators alike have been eagerly anticipating the potential tax benefits tied to a shift away from its longstanding Schedule I status. But before cannabis business owners start planning their post-rescheduling victory lap, … [Read more...] about 280E Tax Relief?
Congressional Debate Intensifies Over Marijuana Industry Tax Breaks
As marijuana legalization gains traction across the United States, a heated debate has emerged in Congress over whether the cannabis industry should benefit from federal tax relief. At the heart of the issue is Internal Revenue Code Section 280E, which currently prevents cannabis businesses—even in legalized states—from deducting standard business expenses due to marijuana's … [Read more...] about Congressional Debate Intensifies Over Marijuana Industry Tax Breaks
7 US House Republicans File Bill to Prevent 280E Tax Relief for Cannabis Businesses
Forcing state-licensed cannabis businesses to continue paying punitive taxes on their ordinary business expenses, even should cannabis be federally rescheduled, is now a bicameral effort in the U.S. Congress. Congressman Jodey Arrington, R-Texas, who chairs the House Budget Committee, and six of his fellow representatives in the U.S. House introduced legislation, H.R. 1447, on … [Read more...] about 7 US House Republicans File Bill to Prevent 280E Tax Relief for Cannabis Businesses
Not Cool, Man: Senate Proposal to Expand 280E Taxes on Cannabis Businesses Even if Rescheduled
Anyone who thought that the momentum towards federal liberalization of marijuana would be a straight line found themselves with a cold dash of water to the face. Late last week Republican senators filed a bill, entitled the “No Deductions for Marijuana Businesses Act,” which would preserve a punitive federal tax policy that bars cannabis companies from taking ordinary business … [Read more...] about Not Cool, Man: Senate Proposal to Expand 280E Taxes on Cannabis Businesses Even if Rescheduled
2 US Senators Work With Prohibitionists to Stop 280E Relief Under Cannabis Rescheduling
A pair of Republican U.S. senators introduced a bill on Feb. 7 that intends to prevent licensed cannabis businesses from deducting ordinary business expenses from their taxes even if the plant gets rescheduled. Under Section 280E of the Internal Revenue Code, cannabis businesses are unable to deduct these expenses—such as payroll, rent and utilities—from their taxable income … [Read more...] about 2 US Senators Work With Prohibitionists to Stop 280E Relief Under Cannabis Rescheduling
