420 with CNW — Will the Revolt Against Marijuana Taxes Succeed?
The U.S. has roughly 38,000 licensed marijuana businesses, yet many are struggling to meet federal tax obligations. Eleven of the largest operators collectively owe over $2.3 billion in federal income taxes. Smaller firms are facing similar pressure, largely due to Section 280E of the federal tax code, which blocks marijuana businesses from deducting most expenses. That burden has pushed a growing number of companies to take a risky step. Cannabis businesses are submitting tax returns that challenge the IRS’s position on what they owe. Whether that pushback will succeed is far from clear. Previous attempts by Americans to mount large-scale…

















