Analysis

5 Things Cannabis Biz Attorneys Should Know About Tax Law

Law360 (November 8, 2019, 4:43 PM EST) -- With more states legalizing the sale of cannabis and the federal government still denying business deductions for marijuana retailers, the tax space for cannabis business attorneys can be complex, to say the least. 

A stylized rendering of the Seattle skyline, including an oversized pot blunt, greets customers entering a marijuana shop in the city in March. (AP) Under Section 280E of the Internal Revenue Code, tax deductions and credits are not allowed for companies whose trade or business consists of trafficking in a controlled substance. Because marijuana is classified as a Schedule I controlled substance under federal law, the Internal Revenue Service...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS