New York Cannabis Companies Could Find a Way to Avoid 280E

New York Cannabis Companies Could Find a Way to Avoid 280E

JD Supra

Trulieve Cannabis Corp. said it saved $113 million in federal taxes over several years. Now, New York-based Ascend Wellness Holdings claims it filed amended tax returns for years 2020, 2021 and 2022 that excluded 280E. The company said this strategy will result in refunds that will cover its 2023 tax burden, expected to be more than $33 million.

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