Tag: CBT > IRS Code 280E Business

Cannabis Business Profit Trends

Only 27% of US Cannabis Operators Profitable in 2024, Whitney Economics Reports

The industry data and economic research consultancy released its preliminary cannabis business conditions survey results.

August 14, 2024

Finance

Cresco Labs Determines IRS Section 280E Not Applicable to its Business

The company reported an improvement of more than 800 basis points year-over-year in its adjusted EBITDA margin for the second quarter of 2024.

August 8, 2024

Finance

Green Thumb CEO Urges DEA to ‘Do Their Job’ for Cannabis Rescheduling

Ben Kovler’s remarks came with the company’s second quarter financial results, which featured $280 million in revenue, an 11% year-over-year increase.

August 5, 2024

Cannabis Rescheduling

Cannabis Rescheduling Nearly ‘Done Deal,’ Story Cannabis CEO Says

Jason Vedadi, the former executive chairman for Harvest Health before its acquisition by Trulieve, talks exclusively with CBT on what he expects from federal rescheduling as the industry awaits the DEA’s final determination.

July 29, 2024

Banking Services Cannabis Industry

Federal Marijuana Rescheduling on the Horizon: A Big Step Forward But Not the Be-All-End-All

Rescheduling does not make cannabis legal throughout America and the U.S. territories; It makes cannabis a federally regulated medication—and many questions remain about the fate of the industry.

May 23, 2024

Massachusetts

Will a Lawsuit Challenging CSA’s Constitutionality Move Forward?

Oral arguments were heard to determine the merits of a lawsuit challenging the federal government’s authority to enforce the Controlled Substances Act against state-legal, intrastate cannabis businesses.

May 22, 2024

Cannabis Tax Law

Does Trulieve’s Tax Strategy Tie Into a Bigger Cannabis Industry Battle?

How a possibly outdated legal precedent, a pending lawsuit against the U.S. Attorney General, the U.S. Constitution, the Clean Water Act and interstate waterways may all relate to Trulieve’s and other high-profile 280E tax refund cases—and what major legal ‘fight’ we’re going to see playing out this year.

May 22, 2024

Federal Cannabis Legalization

Cannabis Rescheduling: Where Do We Go From Here?

The legal team at Vicente addressed the significance of the potential move to reschedule cannabis, detailing the ramifications for state-legal cannabis businesses and what could happen next, during a webinar. Here are 12 key takeaways from the event.

May 10, 2024

Cannabis Rescheduling

Former Deputy Attorney General James Cole Weighs in on Cannabis Rescheduling and What’s Next

Cole spoke on a media call organized by industry groups and said Congress must ‘act to create a unified regulatory environment that involves both the states and the federal government.’

May 1, 2024

Advocacy for Cannabis Legalization

Senate Democrats Introduce Bill to Federally Legalize Cannabis

The Cannabis Administration and Opportunity Act aims to deschedule marijuana by removing it from the Controlled Substances Act.

May 1, 2024

Florida

The Future of Hemp-Derived Delta-9 THC Headlines CBT’s Most-Read Articles for March

Readers also dove headfirst into Amazon’s delta-8 problems and a potential rescheduling roadblock with the DEA’s five-factor test this month.

March 28, 2024

Cannabis Business Financial Report

Trulieve Reports Receiving Refund For 280E Taxes Paid

The multistate cannabis company, as noted in its 2023 financial report and earnings call, says it received $113 million of the more than $174 million it requested in combined amended state and federal tax returns.

February 29, 2024