If you’re in today’s legal cannabis industry you’re aware that tax code 280E restricts you from operating like a traditional business. Simply put, even though you are operating a state-legal business, cannabis is still considered illegal federally. At the end of the day, this changes which expenses you are allowed to deduct for tax purposes.
What if I acquire a license? What's next?
Jill Lamoreaux is a Çanopy mentor, alumni and founder of Sprk Labs. Jill is an entrepreneur, cannabis industry leader, and consultant for dispensary licensing and application.