HI Everyone,
I was off-line for a while but am back and ready to answer any questions you may have about 280E compliance or general accounting and tax questions.
Cynthia Finkenbinder, CPA
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Hey Alpha. Is it possible for my sub s corp to employ all the employees needed to grow, process and dispense and rent them to my cannabis LLC? Rick
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It is possible but not very practical – I do have one client that does this but it is only one employee that works for both businesses so one leases them from the other. It will not help with 280E because the S-Corp will have to treat the lease as income then write off the payroll whereas the LLC will have an expense for leasing the employees that will still be subject to 280E. If you would like to give me a call I would be glad to walk you through this to see if it would be feasible.
Cynthia Finkenbinder, CPA
970-344-7298
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