Tag: legalized cannabis
NJCPA Supports Legislation Modernizing Rules and Provides Tax Fairness to Cannabis Businesses
the satff of the Ridgewood blog
ROSELAND NJ, We are pleased to announce our support for legislation (S3240) introduced on Dec. 10 by Senator Troy Singleton (D-7) that would decouple cannabis businesses in New Jersey from Internal Revenue Code (IRC) Section 280E. New Jersey currently follows this federal rule which prohibits cannabis businesses from deducting business expenses.