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). The measure was sponsored by state Sens. Jelani Gibson is content lead for NJ Cannabis Insider. Distributed by Tribune Content Agency, LLC. Visit nj.com.
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