Marijuana profits up in smoke under IRS 70% rule 280E.

"I believe that the feds extend the drug war through 280E," said Jordan Cornelius, a Denver accountant who has worked with Woolhiser and many other marijuana companies in Colorado. "If (the federal government) can't put them out of business legally when voters are mandating these businesses to move forward, it's very easy to put them out of business financially." It's unclear that the federal government is actively enforcing this tax code in an effort to undermine the legal business, but that is the effect.



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Marijuana profits up in smoke under IRS 70% rule 280E.