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RECOMMENDED READING: CPA Katye Maxson-Landis in Bloomberg News on the Dark Reality of Cannabis Taxation

Moxy Accounting Op Ed Wide

CPA Katye Maxson-Landis of Moxy Accounting in Portland, OR was recently published by Bloomberg News. Her op-ed brings attention to the detrimental effect of federal tax law on cannabis businesses and the numerous practical and public policy challenges that arise from Section 280E of the Internal Revenue Code.

From the article:

“Society benefits from good corporate citizenry. Laws should not prevent or punish businesses from doing right by their employees, their communities, and the environment. Federal law lags behind state legalization and society’s changing views of cannabis. This creates a hostile environment making it nearly impossible to sustain the legal industry. Without sensible policy reform at the federal level, 280E will continue to block economic viability for legal cannabis. Regardless of the federal viewpoint, the legal cannabis industry is here to stay, and punitive tax rules have not deterred bad actors in the market to quit; rather, they punish the quality innovators we want anchoring this emerging industry. As legal markets mature—and if they are to flourish—they deserve equality, and the right to leave the trappings of federal prohibition behind.”

Read the full article here.


You can contact Kevin Jacoby at info@gl-lg.com or 503-488-5424.

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