This week’s updates include developments in: CA, MA, ME, NJ, NY, & PA.
Tag: 280E
The Small Business Tax Equity Act provides an exemption for state-licensed cannabis businesses from federal tax code 280E, which prevents anyone engaged in the trade of certain federally prohibited substances from deducting business expenses.
Marijuana business owners across America continue to struggle with censorship. Social media accounts of state-sanctioned, legal marijuana businesses are routinely being shut down without warning, and frankly without just cause. This is a devastating blow to companies that have invested time, money and energy into building robust following of tens of thousands of dedicated supporters and potential customers.