Recreational Cannabis — Section 280E and Tax Efficient Structuring

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Recreational Cannabis — Section 280E and Tax Efficient Structuring

I. The Conflict: The long arm of federal law

Recreational cannabis businesses operate in a world of conflicting state and federal laws. Several states have legalized recreational cannabis, yet, under federal law, cannabis remains an illegal Schedule I drug under the Controlled Substances Act (CSA). The CSA created five classifications of controlled substances.

 

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