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280E and the Psilocybin Industry
Like cannabis, psilocybin is a schedule one drug subject to tax code 280E. This writing will not go into what 280E is because, as the cannabis industry has been subject to the code section since its implementation in the early 80s, there is an abundance of information about 280E that can be found…
280E and Proper Business Structures
Businesses subject to Internal Revenue Code Section 280E must choose their business structure carefully. In this article, I will describe the pros and cons of each structure, and provide recommendations for specific business types within the cannabis and psilocybin industry.