Cannabis Industry I.R.C. § 280E
Promotes voluntary compliance by helping taxpayers understand and meet their tax responsibilities.
Enforces the law with integrity and fairness.
General guidance and FAQs for taxpayers in the cannabis/marijuana industry.
IRC Section 280E limitations for businesses trafficking marijuana.
Income from any source is taxable and must be reported.
Cash payment options available for unbanked taxpayers.
File Form 8300 for cash payments over $10,000.
Small business taxpayers need to make quarterly estimated tax payments.
Good recordkeeping is essential for monitoring business progress and substantiating tax returns.
Additional resources and publications for the cannabis industry and cash payments.
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