Beating The IRS Tax Code: A Cannabis Company’s Successful ESOPs Transition To Empower Workers And Unlock Growth
MBO Ventures, a leading investment bank specializing in Employee Stock Ownership Plans (ESOPs) within the cannabis sector, has completed an ESOP for Canna Provisions. This award-winning, woman-led cannabis retailer and cultivator in Massachusetts, has been recognized for its quality products like Smash Hits and for its innovative approach to business.
Navigating 280E: How ESOPs Offer A Lifeline To Cannabis Businesses
The collaboration underscores a significant advancement in utilizing ESOPs to navigate the intricacies of tax law, particularly Section 280E, which generally prevents cannabis businesses from claiming tax credits and deductions for expenses they incur. This initiative champions employee ownership at the same time it offers a strategic solution to the financial hurdles imposed by current regulations.
“Through our collaboration …