By Todd Harrison via Cannabis Confidential (August 14)
Editor's note: this article is an excerpt of the full newsletter. You can find additional analyst notes on the Substack version.
The US Supreme Court's June decision inLoper Bright Enterprises v. Raimondooffers immediate support for cannabis companies to challenge IRS interpretations of the Internal Revenue Code.
With the elimination ofChevron'sdeference to agencies when laws are ambiguous, cannabis companies may be in a stronger position to use this tax code section to mitigate the onerous tax consequences of Section 280E.
Thankfully, that legal process isalready in motion.
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