MariMed Revolts Against 280E
On July 12th, MariMed stormed Boston Harbor to protest the unfair tax treatment of US cannabis companies. The Boston Tea Party was a protest in 1773 where American colonists dumped British tea into the harbor to protest unfair taxation. It fueled the push for independence and played a crucial role in the lead-up to the American Revolution. Section 280E of the IRS tax code was created in 1982 to prevent illegal drug dealers from deducting ordinary expenses (such as rent, advertising, and salaries) from their taxes. This was in reaction to a convicted cocaine dealer attempting to assert his rights under federal tax law to deduct ordinary business expenses. 280E specifically applies to Schedule I and Schedule II drugs...
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