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.
Tax strategies took the spotlight in fourth-quarter financial reports from publicly traded U.S. cannabis companies.
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.
Multistate operator Jushi Holdings is trying to improve its efficiency and margins as it hopes for new adult-use cannabis markets in 2024.
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.
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.
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.
Green Thumb Industries’ plans to be the first multistate operator to sell marijuana at convenience stores is still in the works, company officials said while reporting annual revenue of $1.05 billion.
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?
Two legal cases have realistic chances of success, meaning cannabis operators should consider filing amended federal tax returns claiming refunds.
Attorneys general from 12 states sent a letter to the head of the U.S. Drug Enforcement Administration to “encourage” the DEA to reschedule marijuana.
Six Democratic governors have formally asked the Biden administration to move on rescheduling marijuana before the end of the calendar year.
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.