New York’s New Cannabis Tax Deductions

Canna Law Blog
By Simon MalinowskiApr 8, 2022, 2:00 pm243 pts
New York snuck a pretty significant tax break for cannabis businesses into its 2022 budget. The Revenue Bill included a state tax deduction for cannabis related business expenses that are currently disallowed by § 280E of the federal tax code. We have seen this strategy in other “canna friendly” states and…

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