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Marijuana Moment

Marijuana Moment

IRS warns marijuana businesses that some have filled out a form to claim tax deductions they’re not eligible for under 280E

Marijuana Moment
Summary
Nutrition label

72% Informative

Marijuana businesses are prohibited from taking federal tax deductions for activities involving Schedule I and Schedule II substances.

A provision known as 280E prevents those businesses from taking deductions under the Controlled Substances Act (CSA) IRS says some cannabis firms have filled out a form without a “reasonable basis” in an attempt to take deductions.

VR Score

74

Informative language

79

Neutral language

36

Article tone

semi-formal

Language

English

Language complexity

72

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

detected

Known propaganda techniques

not detected

Time-value

short-lived

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