IRS Code Section 280E presents many challenges for business in the cannabis industry. Our partner, Jennifer Benda, recently blogged about how a court in New Mexico addressed this issue. Check out the blog here.
Our tax and wealth planning partner, Jennifer Benda, recently blogged about a recent federal court ruling regarding IRS enforcement of Section 280E. Check it out to learn more.
Tax and accounting issues you should not ignore when setting up your marijuana business:
- The Trouble with Cash Based Businesses
- Internal Controls – any cash based business is closely scrutinized by the IRS and other taxing authorities; having strict internal control procedures, in writing, which are strictly enforced, will go a long way in establishing