Total delinquent payments by U.S. cannabis operators have exceeded $3.8 billion and could balloon to $4.2 billion in 2024 without some intervention.
Cannabis operators’ delinquent payments total more than $3.8 billion, report says is a post from:…
280E
280E, new markets and wholesale revenue highlight cannabis earnings season
Tax strategies took the spotlight in fourth-quarter financial reports from publicly traded U.S. cannabis companies.
280E, new markets and wholesale revenue highlight cannabis earnings season is a post from: MJBizDaily: Financial, Legal & Cannabusin…
TerrAscend expects $26 million tax refund, shares strategy for marijuana nemesis 280E
TerrAscend Corp. is the latest marijuana multistate operator to announce a plan to stop paying taxes owed under Section 280E of the Internal Revenue Code, and an executive hinted at the company’s legal basis for doing so.
TerrAscend expects $26 million…
Jushi looks to boost efficiency as it awaits new adult-use cannabis markets
Multistate operator Jushi Holdings is trying to improve its efficiency and margins as it hopes for new adult-use cannabis markets in 2024.
Jushi looks to boost efficiency as it awaits new adult-use cannabis markets is a post from: MJBizDaily: Financial…
Cannabis MSO Ascend Wellness expecting 280E tax refunds
Multistate cannabis operator Ascend Wellness Holdings says it has filed amended federal tax returns for several years and expects to receive refunds, becoming the latest U.S. marijuana company to seek the return of tariffs paid under Section 280E of th…
Cannabis MSO Ascend Wellness expecting 280E tax refunds
Multistate cannabis operator Ascend Wellness Holdings says it has filed amended federal tax returns for several years and expects to receive refunds, becoming the latest U.S. marijuana company to seek the return of tariffs paid under Section 280E of th…
California medical cannabis dispensary owes $4.2 million, US Tax Court rules
A subsidiary of California-based cannabis retailer Harborside must pay nearly $4.2 million in back taxes and penalties after losing a case in U.S. Tax Court. The Tax Court determined in a decision issued Wednesday that San Jose Wellness, the Harborside…
IRS puts 280E tax guidance for cannabis companies on back burner
Hoped-for guidance for cannabis companies affected by Section 280E of the federal tax code won’t be published anytime soon, an IRS attorney said recently. According to Bloomberg Tax, the federal agency is more focused on coronavirus-relief issues…
CA cannabis firm seeks US Supreme Court ruling on $1.3 million tax case
A California cannabis business is taking its fight over a $1.3 million tax bill to the U.S. Supreme Court after losing a lower-court ruling based on the company filing its challenge to the U.S. Tax Court one day late. Organic Cannabis Foundation, which…
Denver medical cannabis dispensary takes 280E appeal to Supreme Court
A Colorado medical cannabis dispensary is asking the U.S. Supreme Court to review a lower-court decision that allowed the IRS to obtain business records in order to apply the onerous 280E provision of the tax code. The filing this week is a long shot, …