Considered a “secret weapon” by the states against the industry, these taxes are a method for reducing use and demand. But as the interest and consumption of cannabis only continues to grow throughout the country, it’s really just a way for states to bring in more revenues from the industry.
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In the aftermath of the COVID-19 pandemic, more businesses than usual are expected to file for bankruptcy. Unfortunately for those in the cannabis industry, filing bankruptcy isn’t a possibility.
As you begin researching options for structuring your new cannabis business, you’ll likely notice that a lot of cannabis companies decide to become “C-corps.” That’s because a C-corp gives you more opportunities to separate your personal and business finances.
As part of the cannabis industry, you’ve probably heard rumors about the end of IRS Section 280E. Plenty of people in the business have been expressing optimism or even certainty lately that the rule is on its way out. But before you start counting on that, get the facts.
In the aftermath of the COVID-19 pandemic, more businesses than usual are expected to file for bankruptcy. Unfortunately for those in the cannabis industry, filing bankruptcy isn’t a possibility. Even so, this doesn’t mean you’re out of luck.
