Analysis

Tax Court Decision May Open Up New Challenges To 280E

Law360 (October 30, 2019, 7:18 PM EDT) -- A recent U.S. Tax Court decision may open up a new avenue to challenge a tax code provision that prohibits deductions and credits for marijuana businesses, as several court judges said the provision may amount to an unconstitutional excessive penalty.

A grow manager attends to marijuana plants in Baton Rouge, Louisiana. Judges' partial dissents in a recent U.S. Tax Court decision could lead to challenges of a tax code provision that forbids deductions and credits for marijuana businesses. (AP) Earlier this month, the Tax Court in an opinion with multiple partial dissents, upheld a $1.2 million tax deficiency for a California medical...

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