Florida's Cannabis News Podcast

Florida's Cannabis News Podcast Saturday November 21, 2020 Cannabis Taxation—Part IV—How U.S. Cannabis Operators Live Alongside Section 280E. This week, David continues Florida’s Cannabis News Podcast’s five part series on Section 280E. In this episode (Part IV), we break down the two legal arguments U.S. cannabis operators use to alleviate the burdens of Section 280E. First, the second-line-of-business argument, and second, using savvy accounting methods to put expenses into COGS (cost of goods sold). Here are the highlights: States recognize cannabis companies as legitimate businesses, and lawmakers are thwarting the United States’ ability to compete in the global market because they have not provided a level playing field for U.S. cannabis companies to develop. The most effective way to help business owners stay afloat and give patients and consumers access to safe cannabis is through legislative action. Lawmakers have taken inconsequential steps to address this problem, even though Congress did the most s