How Section 280E is Still Hindering the Cannabis Industry

Jay Jerose, Principal at the Bonadio Group, dives into Section 280E and shares its implications on businesses and the cannabis industry. Not only is it difficult for cannabis companies to avail themselves of alternative banking solutions, but there are also obstacles in place preventing these companies from taking advantage of notable tax deductions, with the primary obstacle being Internal Revenue Code (IRC) Section 280E.

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Current Trends in Banking for Cannabis-Related Businesses

CRBs are still in a holding pattern when it comes to any new developments for traditional banking and lending access. However, there are more banks than ever doing business with the industry and political shifts in Washington offer a hopeful outlook for future legislative changes.

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