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Denver Cannabis and Tax Attorney Jennifer Benda in Marijuana Business Daily

April 20, 2021

Marijuana Business Daily

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Marijuana businesses have paid higher taxes than mainstream companies for years thanks to Section 280E of the Internal Revenue Code, and now cannabis operators - especially retailers - might face an even bigger tax bill from Uncle Sam as well as some states

Two noteworthy developments could boost marijuana firm taxes:

President Joe Biden's $2 billion infrastructure plan proposes raising the federal corporate tax rate from 21% to 28%.

States legalizing recreational marijuana programs increasingly are limiting vertical integration to small operators, or microbusinesses. By contrast, stand-alone marijuana retailers face a higher federal tax burden than vertical operations given the limited number of deductions retailers can take, tax experts say.

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