WURK CANNABIS HR & PAYROLL WEBINAR SERIES

Everything You Need to Know About 280E & Tips to Avoid 280E Pitfalls

One of the biggest challenges to cannabis businesses in the US is the 280E IRS tax code. The tax code is intended to prevent illicit drug dealers from claiming tax deductions for their business expenses and is interpreted to include state-legal cannabis businesses. As a result, marijuana businesses face higher federal tax rates - about 40-80 percent versus the standard 21 percent corporate tax rate. 

IRS tax code 280E makes a huge portion of revenue from state-legal cannabis businesses susceptible to tax, hindering licensed business owners from being able to invest in building improvements, pay raises, benefits, and more. 

Watch this on-demand webinar to learn important information about 280E and how it can impact your cannabis business. We will also give you access to the slide deck and the audio version.

In this webinar, you will learn:

  • How 280E impacts cannabis businesses
  • Tips for managing exposure to 280E
  • Steps for keeping proper 280E records

About the presenter:

Screen Shot 2021-08-06 at 3.47.18 PMNick Richards, Esq., Dill, Dill, Carr, Stonbraker & Hutchings, PC

Nick has more than 15 years of experience as an IRS and private client experience. He served as an IRS trial attorney and a Special Assistant US attorney. He is currently a partner at Dill, Dill, Carr, Stonbraker & Hutchings, where he represents taxpayers involved in tax audits, trials, and collections in Colorado, California, and throughout the US. He also teaches tax law at the University of Denver, where he is an adjunct professor.