Significant tax benefits are anticipated for the cannabis industry, followingPresident Joe Biden's confirmation of the administration's intent to reschedule cannabis from Schedule I to Schedule III. This move could alleviate the burdens of IRS tax code 280e, which has prevented cannabis companies from deducting normal business expenses. Which cannabis companies will benefit the most?
Leading The Pack In Tax Payments
Rescheduling cannabis will eliminate the burdensome 280E tax code, potentially freeing up over a billion dollars in tax breaks for the industry. Among the companies poised to benefit the most are Curaleaf (OTC:CURLF) and Trulieve (OTC:TCNNF), given...
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