Section 280E refers to a provision in the Internal Revenue Code (IRC) of the United States. 280E has significant implications for businesses involved in the sale of controlled substances, including marijuana (or “cannabis” under Minnesota law). The key points related to Section 280E are: Disallowance of Deductions: Section 280E prohibits cannabis retailers from taking deductions […]
Learn MoreMinnesota’s cannabis regulatory agency, the Office of Cannabis Management (also referred to in the law as the “Office”) will be in charge of drafting and issuing rules and regulations related to the industry. It is tasked with a variety of obligations, including: To develop, maintain, and enforce an organized system of regulation for the cannabis […]
Learn MoreAsk most cannabis businesses what they would like to change about the industry and – aside from the 280E tax issue – many would say that they want better access to banking services. This is where the Secure and Fair Enforcement Regulation (SAFER) Banking Act, formerly known as the SAFE Banking Act of 2019, comes […]
Learn MorePeople want to know what Minnesota’s cannabis license application process is going to look like. While we likely will not see the finalized application forms for at least 6 months, it is important to start planning for the substance that you will likely want to and/or have to include. While the statute legalizing cannabis does […]
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