Marijuana Businesses Can't Force Court To Do 'Imaginary' Rescheduling Review To Exempt Them From...

Wed, Mar 11

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IRS says a marijuana company's argument that 280E doesn't apply because cannabis doesn't fall "within the meaning of" a Schedule I drug would force US Tax Court to conduct its own rescheduling review under an "imaginary process" blocked by federal law. https://t.co/z3RpqHyP8b

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While marijuana may soon be rescheduled under federal law, that doesn’t currently exempt state-legal cannabis businesses from an Internal Revenue Service (IRS) code known as 280E that bars them from...

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