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Cannabis Businesses Could Save Millions In Taxes Depending On The Outcome Of A California Dispensary’s Federal Appeals Court Case

Amicus briefs filed this week in a Ninth Circuit U.S. Court of Appeals tax case signaled the intense interest the cannabis industry has in the IRS tax burden exacted on dispensaries and related marijuana businesses the feds consider illegal.

Indeed, lawyers for California-based dispensary Harborside want nothing less than to declare Section 280E of the U.S. Tax Code unconstitutional. And they made that point clear in their brief filed May 26, which focused on Section 280E directly.

The two amicus briefs, from leading trade organizations the National Cannabis Industry Association, and the Marijuana Industry Group, in collaboration with the Cannabis Trade Federation Action Group, back up the dispensary’s challenge.

– Read the entire article at Forbes.

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