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Why Isn’t Payroll Easier for Cannabis Businesses?

Why Isn't Payroll Easier for Cannabis Businesses?

Way back in 2013, the Obama administration signed the Cole Memorandum, mandating that state-licensed cannabis businesses would not be prosecuted unless they explicitly violated a federal law. Unfortunately in 2018, the Cole Memorandum was rescinded creating uncertainty throughout the industry.

Tax Code Update Gives Cannabis Businesses with 280E Struggles Options

Tax Code

As all cannabis business owners know, there are many challenges the industry faces when managing taxes and the IRS, particularly where IRC Tax Section 280E is concerned. This fact was harshly underscored earlier this year when the Treasury Inspector General for the Tax Administration (TIGTA) released a report suggesting large noncompliance throughout the industry.

Cannabis Banking and Understanding The 280E Tax Code

Cannabis Banking and Understanding The 280E Tax Code

We probably aren’t the first ones to tell you that when it comes to your cannabis business and banking solutions, the financial challenges, such as the 280E tax code, are the ones you simply can’t avoid or overlook. Even though your cannabis business operates in a cannabis-legal state, the federal government still has control over […]