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The One Tax Only Dispensaries Owners Must Pay | IRC-280E details for cannabis retail shops.

The One Tax Only Dispensaries Owners Must Pay | IRC-280E details for cannabis retail shops.

The Internal Revenue Service’s (IRS) Taxpayer Advocate is reminding people of the unique financial challenges that state-legal marijuana businesses face under federal prohibition.

In a blog post published on Tuesday, the independent agency under IRS explained that cannabis companies are still obligated to pay federal taxes—but they’re barred from deducting most expenses that other industries can claim because the federal government considers marijuana a strictly controlled substance.

This means that dispensaries are at a significant disadvantage when it comes to taxes, and it’s something that potential dispensary owners should be aware of before getting into the business. However, despite the challenges, there are still opportunities for those who are willing to navigate the complex landscape of tax laws and regulations.

#cannabis #news

Extracted from the live show: https://youtu.be/Zresq5VGZW0

Please be 21+ because this is about the legal & legitimately lawful (at the state level) cannabis industry.

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legalization news, cannabis taxes, cannabis double tax, IRC-280E

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Thomas Howard

a seasoned cannabis business attorney, entrepreneur, and advocate with over a decade of hands-on experience navigating complex cannabis regulations across the United States. As the founder of Cannabis Industry Lawyer and co-host of Cannabis Legalization News, Tom has helped clients win cannabis licenses in multiple states, advised startups from seed to sale, and litigated key industry cases involving constitutional challenges and regulatory disputes. He’s personally built and launched cannabis businesses, giving him a rare combination of legal expertise and real-world operational insight. Tom has studied thousands of pages of cannabis laws and rules, testified on legalization issues, and regularly appears in media to break down developments in plain English. His mission: to fight outdated prohibition, empower entrepreneurs, and provide trustworthy, actionable information to anyone building a future in the legal cannabis industry.
Picture of Thomas Howard

Thomas Howard

a seasoned cannabis business attorney, entrepreneur, and advocate with over a decade of hands-on experience navigating complex cannabis regulations across the United States. As the founder of Cannabis Industry Lawyer and co-host of Cannabis Legalization News, Tom has helped clients win cannabis licenses in multiple states, advised startups from seed to sale, and litigated key industry cases involving constitutional challenges and regulatory disputes. He’s personally built and launched cannabis businesses, giving him a rare combination of legal expertise and real-world operational insight. Tom has studied thousands of pages of cannabis laws and rules, testified on legalization issues, and regularly appears in media to break down developments in plain English. His mission: to fight outdated prohibition, empower entrepreneurs, and provide trustworthy, actionable information to anyone building a future in the legal cannabis industry.

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