Treasury Report Inspires Quixotic Strategy for Marijuana Businesses

Tax Notes Federal, 2020

4 Pages Posted: 1 Apr 2021

Date Written: July 27, 2020

Abstract

In this article, Allen argues that Treasury’s report on the growth of the marijuana industry and the urgent need for additional guidance from the IRS regarding inventory rule exemptions and deduction disallowances is misplaced: The new law doesn’t enable circumvention of the deduction disallowance, and the IRS has already sufficiently addressed the question.

Keywords: Cannabis, 280E, tax, taxation, marijuana, inventory

JEL Classification: K34

Suggested Citation

Allen, Kat, Treasury Report Inspires Quixotic Strategy for Marijuana Businesses (July 27, 2020). Tax Notes Federal, 2020, Available at SSRN: https://ssrn.com/abstract=3808162

Kat Allen (Contact Author)

Wykowski Law ( email )

San Francisco
United States

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