This summer, Cannabis NewsHub reached out to successful leaders in the cannabis community to get their thoughts on the possible rescheduling of Cannabis and its impact. INSIGHTS Matter: 280E asked them to share their insights and advice on this question:
If cannabis is reclassified as a Schedule III drug, Section 280E would no longer apply. What advice would you offer cannabis businesses to maximize the potential advantages of this change?
Participation in this social media campaign was an overwhelming success – more than 20 industry professionals shared their “INSIGHTS” all of which were posted and shared through Cannabis NewsHub social media channels and on the website. Read all posts here.
The “INSIGHTS” shared by our participants varied greatly, and offered advice as it relates to tax credits that would become available. Examples of these include the Research & Development Tax Credit, Work Opportunity Tax Credit, and the Tax Cut and Jobs Act. Others shared benefits that would be available to CRB’s should IRC 280E be removed through rescheduling of cannabis. Some of these benefits include catching up on outstanding tax obligations, increase in operating budgets, the ability to afford to further innovate, expand and reinvest in growth, acquire resources, hire personnel, expand operations, increase valuation through better balance sheets due to increase in cash flow and more.
The powerful advice from these professionals, delivered by through Cannabis NewsHub’s INSIGHTS Matter: 280E, can help you navigate and best prepare your company to leverage the business impact of the potential rescheduling.
Thanks to all who participated as well as thanks to our friends / partners who helped to promote this campaign: National Cannabis Industry Association (NCIA), BudsFeed, and the Association of International Certified Public Accounts (AICPA) who helped to us find some of these amazing voices.
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