Tenth Circuit: No Fifth Amendment Defense to the Application of Section 280E
I have written before about the battles being fought by cannabis businesses facing IRS examinations. IRS audits raise many issues for state legal cannabis businesses operating in violation of the
Continue Reading Tenth Circuit: No Fifth Amendment Defense to the Application of Section 280E
Tax Court: Section 280E Can Apply to Non-Licensed Taxpayers Engaged in Cannabis Businesses
Yesterday the Tax Court issued two decisions discussing the impact of Section 280E on cannabis businesses. One of these cases addresses the application of Section 280E to licensed and non-licensed
Continue Reading Tax Court: Section 280E Can Apply to Non-Licensed Taxpayers Engaged in Cannabis Businesses
Section 280E Litigation Update: Harsh Results for Resellers
In the latest Tax Court opinion addressing the application of Section 280E to cannabis businesses there is no good news. However, there is some new guidance. In Patients Mutual Assistance
Continue Reading Section 280E Litigation Update: Harsh Results for Resellers
In Statement, Top Federal Prosecutor in Massachusetts Signals Good News for Recreational Marijuana Industry
Our colleague Joseph A. McNelis III has written an excellent article for the In the Weeds blog about a recent statement from the U.S. Attorney in Massachusetts regarding his office’s
Continue Reading In Statement, Top Federal Prosecutor in Massachusetts Signals Good News for Recreational Marijuana Industry
An Update on Litigation of Cannabis Business Tax Issues
I have recently penned a Law360 article discussing lessons learned from recent tax decisions impacting cannabis businesses. We will continue to cover this topic on this blog.
To be alerted
Continue Reading An Update on Litigation of Cannabis Business Tax Issues
Section 280E and the Harsh Reality of Double Taxation
There is not too much to say about the Tax Court’s latest decision involving a marijuana company. In Loughman v. Commissioner, T.C. Memo 2018-85, the operators of a Colorado
Continue Reading Section 280E and the Harsh Reality of Double Taxation
IRS Guidance to Field: Deep Clean Equipment Used in Cannabis Businesses Before Selling
Attorneys representing cannabis businesses are often faced with questions about what happens when the cannabis business has not paid its taxes and the IRS is proceeding with collection actions. No
Continue Reading IRS Guidance to Field: Deep Clean Equipment Used in Cannabis Businesses Before Selling
DOJ Reverses Cannabis Policy – What Does It Mean for the Industry?
Our colleagues Joseph A. McNelis III and William Bogot have published a client alert addressing yesterday’s announcement by Attorney General Jeff Sessions that effectively ends the Obama Administration’s “hands off”
Continue Reading DOJ Reverses Cannabis Policy – What Does It Mean for the Industry?
Federal Data Shows More Banks Are Serving Marijuana Businesses
Over at the In the Weeds blog, we report on new federal data showing a steady increase in the number of depository institutions that actively bank U.S. marijuana businesses. As
Continue Reading Federal Data Shows More Banks Are Serving Marijuana Businesses