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California marijuana firms face more state tax audits, millions of dollars in unpaid taxes

Three years after the launch of California’s legal marijuana market, cannabis tax experts warn the industry should expect state regulators to ramp up tax enforcement, noting that several audits of MJ businesses are already underway. As a result, …

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Biden’s DOJ lawyers take IRS side in marijuana firm’s 280E fight

The Biden administration has weighed in on a U.S. Supreme Court marijuana petition, arguing that state-legal cannabis businesses can be investigated by the Internal Revenue Service for potential violations of Section 280E of the tax code. It is believe…

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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…

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Cannabis taxes fund the police. Here’s how to change that

The cops got their cut in order to get legalization laws passed. But now it’s a different world.
The post Cannabis taxes fund the police. Here’s how to change that appeared first on Leafly.