The most unique concern about marijuana industry business taxation is US Internal Revenue Code section 280E which restricts deductible expenses for any business involved in controlled substances (read why removing marijuana from Schedule I of controlled substance act should be a high priority of US Congress).
280E impacts all cultivation and dispensary marijuana industry businesses. Click here to read our article on why 280E could severely disrupt if not bankrupt marijuana industry companies who do not consider its impact if they are subject to an IRS tax audit.
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Also read our article on the top issues of concern to investors and operators of cannabis industry businesses..