Sunday, August 31, 2025
Weed Deep Dive
  • Politics
  • Lifestyle
  • Business
  • Medical
  • Shop
No Result
View All Result
Weed Deep Dive
  • Politics
  • Lifestyle
  • Business
  • Medical
  • Shop
No Result
View All Result
Weed Deep Dive
No Result
View All Result

Weed Companies can make a good amount of money back with tax refunds

Graham Cooper by Graham Cooper
January 26, 2024
in Business, Featured
136
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
Views: 2,508

Section 280E in the tax code prevents federally illegal businesses from deducting their expenses. This would include businesses revolving around marijuana, and has a been a thorn in the side for over a decade now. It has resulted in hundreds of millions of dollars left out of the hands of companies due to a lack of deduction.

Recently, however, in a US District Court in Massachusetts, Canna Provisions is arguing that marijuana is technically no longer illegal under the Controlled Substances Act. And if that’s the case, 280E does not apply. The court case is still active, and will probably find its way into the hands of the US Supreme Court, but Trulieve wasted no time in capatlizing on this ambiguity. They filed amended tax returns for the years 2019 through 2021, and got an extra $143 million back.

An article at MJBizDaily is making the case that everyone else should follow in the footsteps of Trulieve before it’s too late.

For one, you only have three years to amend your tax return, which is why Trulieve could only go back to 2019.

The author, Nick Richards, also argues that this ruling has a better chance in the conservative edged Supreme Court.

“The current conservative Supreme Court seems poised to overturn existing precedent that it believes does not honor the original meaning of the U.S. Constitution, and the expansion of commerce clause power is one such area. Examples of this include the court striking down portions of the Affordable Care Act, limiting the Clean Water Act and overruling federal sports gambling laws. It is plausible that marijuana could be legalized by the Supreme Court, thereby eliminating 280E and returning many cannabis companies to profitability,” Nick Richards writes.

This would be huge for thousands of struggling cannabis companies out there, so hopefully the article reaches many of those eyes.

Here’s the original MJBizDaily article.

Previous Post

Dr. Drew focuses on the downside of marijuana

Next Post

DEA Agent gets a positive THC test result from CBD, sowing confusion

Graham Cooper

Graham Cooper

Related Posts

US Coast Guard Boasts Record Cocaine & Cannabis Bust

US Coast Guard Boasts Record Cocaine & Cannabis Bust

by Keegan MacDonald
August 28, 2025
0

A U.S. Coast Guard cutter on Monday offloaded what officials described as the largest drug seizure in the service’s history,...

Advocacy Group Pushing Trump to Not Reclassify Cannabis Amongst Recent Talks

Advocacy Group Pushing Trump to Not Reclassify Cannabis Amongst Recent Talks

by Keegan MacDonald
August 26, 2025
0

A coalition of law enforcement, anti-marijuana, and religious organizations is urging President Donald Trump to reject a proposal to reclassify...

Illegal Weed Farm Busted In Sequoia National Park

Illegal Weed Farm Busted In Sequoia National Park

by Keegan MacDonald
August 26, 2025
0

Sequoia National Park, home to the world’s largest trees and iconic raptors like peregrine falcons and bald eagles, has long...

Federal agents in DC are saying Trump is tired of marijuana

Federal agents in DC are saying Trump is tired of marijuana

by Graham Cooper
August 21, 2025
0

We're in the midst of a federal takeover of Washington D.C. in order to help with crime, despite the data...

Next Post
DEA Agent gets a positive THC test result from CBD, sowing confusion

DEA Agent gets a positive THC test result from CBD, sowing confusion

Latest

US Coast Guard Boasts Record Cocaine & Cannabis Bust

US Coast Guard Boasts Record Cocaine & Cannabis Bust

August 28, 2025
Advocacy Group Pushing Trump to Not Reclassify Cannabis Amongst Recent Talks

Advocacy Group Pushing Trump to Not Reclassify Cannabis Amongst Recent Talks

August 26, 2025
Illegal Weed Farm Busted In Sequoia National Park

Illegal Weed Farm Busted In Sequoia National Park

August 26, 2025
ADVERTISEMENT
Sign up for the WDD Newsletter

Categories

  • Business
  • Featured
  • Lifestyle
  • Medical
  • Politics
  • Uncategorized

Recent Posts

  • US Coast Guard Boasts Record Cocaine & Cannabis Bust
  • Advocacy Group Pushing Trump to Not Reclassify Cannabis Amongst Recent Talks

Browse by Tag

cannabis covid marijuana ban ncaa

AFFILIATES

© Weed Deep DIve. All rights reserved.

No Result
View All Result
  • Politics
  • Business
  • Lifestyle
  • Medical
  • Shop

© Weed Deep DIve. All rights reserved.