The cannabis industry has spent years debating what the eventual rollback of Section 280E could mean for businesses operating legally under state law. Tax professionals have largely agreed on one point: if marijuana is moved to a lower federal drug classification, any tax relief would likely apply only going forward.
As the 280E situation becomes clearer and qualifying marijuana firms start deducting business expenses like any other legal business, ancillary companies, such as Innovative Industrial Properties Inc. (NYSE: IIPR), could see their client lists grow as cannabis firms invest some of the money retained in expanding their…
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