ICLE | Tax Law Series: Tax Issues Related to Cannabis
Tax Law Series:
Tax Issues Related to Cannabis
On-Demand Seminar (Posted 11/05/19) | Level: Intermediate
Cosponsored by the Taxation Section of the State Bar of Michigan

Cannabis businesses operating in compliance with state law are still deemed illegal by the IRS. IRC Section 280E prohibits tax deductions or credits for businesses engaged in the production, distribution, and sale of controlled substances, including cannabis. Without business expenses to reduce their taxable income, cannabis entrepreneurs are forced to pay taxes on all of their earnings. Our tax experts discuss strategies to minimize the effects of IRC 280E on your client's cannabis business.

Watch so you can:

  • Unpack the salient definitions in IRC 280E
  • Get an overview on how the tax court is applying IRC 280E
  • Consider implications of choice of entity
  • Explore the use of opportunity zones
Available Formats
James Combs, Julie Rhoades, and Emily Murphy discuss how some cannabis businesses might avoid application...
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