Author: Michael Harlow

[ad_1] By Michael Harlow, Cohn Reznick Over the years we have had many planning meetings with clients where they express extreme frustration when they see their projected tax liability. More than one has told us that 280E makes it very difficult to invest in and grow their business. We then must remind them that was the entire point: 280E is supposed to be punitive by design. Most in the cannabis industry consider the federal income tax imposed on cannabis companies to be one of the biggest challenges to the industry. This is because Internal Revenue Code Section 280E (Section 280E)…