On May 8, 2023, New Jersey Governor Phil Murphy signed Bill A-3946/S-340 into law, which decouples the state from the onerous Section 280E federal law that disallows most business deductions (except for certain costs of goods sold) targeting the cannabis industry. The new law applies to tax years beginning on or after January 1, 2023.
On May 8, 2023, New Jersey Governor Phil Murphy signed Bill A-3946/S-340 into law, which decouples the state from the onerous Section 280E federal law that disallows most business deductions (except for certain costs of goods sold) targeting the cannabis industry. The new law applies to tax years beginning on or after January 1, 2023. […]
Cannabis Law Report
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