No Pennies-on-Dollar tax settlements for the Cannabis Industry

Section 280 takes the profit out of the cannabis business by disallowing “deductions” and creating huge income tax liabilities.

But if 280E tax debt isn’t also forgiven, the current cannabis industry won’t survive against newcomers, says Greenspoon Marder’s Nicholas J. Richards.

Recent downturns in cannabis sales and loss of capital investments have revealed the industry’s dirty little secret—IRC Section 280E tax debt.