Section 280E and The Taxation of Cannabis Businesses
Cannabis Law Report
AUGUST 23, 2021
6] Deductions under Section 162, however, are, as the adage goes, “matters of legislative grace” and “Congress [may generally] condition, limit, or deny deductions from gross income in arriving at the net which is to be taxed.” [7] 15] Thus, the purchase and sale of cannabis constitutes trafficking even when permitted by state law. [16]
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