280E, new markets and wholesale revenue highlight cannabis earnings season

Tax strategies took the spotlight in fourth-quarter financial reports from publicly traded U.S. cannabis companies.

TerrAscend expects $26 million tax refund, shares strategy for marijuana nemesis 280E

TerrAscend Corp. is the latest marijuana multistate operator to announce a plan to stop paying taxes owed under Section 280E of the Internal Revenue Code, and an executive hinted at the company’s legal basis for doing so.

Cannabis MSO Ascend Wellness expecting 280E tax refunds

Multistate cannabis operator Ascend Wellness Holdings says it has filed amended federal tax returns for several years and expects to receive refunds, becoming the latest U.S. marijuana company to seek the return of tariffs paid under Section 280E of the Internal Revenue Code.

Opinion: Medical marijuana companies have stronger 280E argument

The $143 million question on every marijuana executive’s mind these days is: Should my MJ company consider filing a tax refund claim? The best answer is: Some should.

Trulieve Cannabis reports receiving $113 million in 280E tax refunds

Marijuana multistate operator Trulieve Cannabis Corp. revealed that it has received $113 million worth of tax refunds as it challenges what it owes under Section 280E of the Internal Revenue Code.

Opinion: Is Trulieve’s refund claim the cannabis industry’s way out of 280E?

Trulieve Cannabis Corp.’s highly publicized $143 million federal income tax refund claims created a frenzy of hope that seems to offer the marijuana industry a way out. But does it?

Opinion: Cannabis companies should file amended tax returns to claim 280E refunds

Two legal cases have realistic chances of success, meaning cannabis operators should consider filing amended federal tax returns claiming refunds.

Rescheduling marijuana would liberate plant-touching firms from Section 280E

If and when rescheduling becomes law, regulated marijuana business owners in the United States would enjoy an enormous tax cut, as the notorious IRS Section 280E would no longer apply.

Cannabis stakeholders upbeat about prospects for end of 280E, stress need for risk-taking

Industry stakeholders speaking at MJBizCon on Wednesday expressed optimism that the Biden administration will reschedule marijuana as a less dangerous drug in the months ahead, a move that would allow cannabis businesses to escape the steep taxes levied under Section 280E of the federal tax code.

What the end of 280E might mean for cannabis business taxes

As the U.S. Drug Enforcement Administration weighs whether to revise marijuana to a Schedule 3 controlled substance, regulated cannabis producers are looking forward to the prospect of easing their heavy tax burdens under Section 280E of the federal tax code.

Marijuana MSO Trulieve seeks $143M federal refund for 280E taxes

Multistate marijuana company Trulieve Cannabis Corp. is seeking a federal tax refund of $143 million, saying it “believes it does not owe” the taxes it paid over three years.

Opinion: Cannabis businesses could recoup millions on exit, thanks to ‘280E asset’

A combination of tax methods could help cannabis companies reduce their tax burden under Section 280E of the federal tax code.