Recent Updates on the Applicability of IRC Section 280E to Cannabis Companies
By EsqSocial Corporation 07/05/25
Cannabis companies are increasingly taking non-280E positions on their current year federal income tax returns, while many, such as public “MSOs,” have amended prior years’ returns to reflect this position. Foley Hoag’s Tax Practice Chair, Kip Cawley, and Cannabis Practice Co-Chair, Jesse Alderman, recently discussed trends in the application of Section 280E and the status of current legal challenges and IRS enforcement. This is a trend on the mind of taxpayers on extension from tax year 2024 or...
By: Foley Hoag LLP