New Jersey Allows Cannabis Businesses to Deduct Expenses on State Taxes
CPA Practice
MAY 10, 2023
Since cannabis is federally prohibited, cannabis businesses were not allowed to deduct expenses like normal businesses would (Section 280E of the IRS Tax Code). It will ensure that dispensaries are paying a fair amount of taxes by taking into account critical business expenditures and allowing these deductions from their income.”
Let's personalize your content