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IRC Sec. 280E Redux - California Centric - High Complexity

We would be willing to be that everyone is sick of hearing about IRC Sec. 280E and denial of expense deductions, and it isn’t something that growers tend to worry about as it is viewed as more or a Distributor - Dispensary problem.

Permit me to offer our version and explain why it is different:

  1. The post is VERY in depth - 3,500 words with another 7,500 words in the footnotes.

  2. The comprehensive overview of DEA Schedules I - V and the impact of possible changes to the Federal law on Sec. 280E.

  3. It is written for attorneys and CPA’s with graduate degrees in taxation. It may be difficult to understand…that’s ok if you have concerns about the issue you need someone that understands at that level anyway

  4. It adds the perspective of history in California politics covering Prop. 215 in 1996, a comprehensive discussion of People v, Kelly and the subsequent Felix Kha vs. Garden Grove

The link to the article https://abizinaboxcannabis.com/abizinabox-cpas/updates/tax/analysis-irc-sec-280e/

Enjoy and do remember that some portions of the analysis are unique to California.

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