TCNNF - Trulieve Vs The IRS Over Millions Of Dollars In Tax Refund Relocates One Of Its Florida Stores | Benzinga
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) announced on Friday the filing of amended federal tax returns with refund claims for several of the company's business entities for 2019, 2020 and 2021.
The medical cannabis giant is claiming a refund of $143 million from taxes paid, which the company believes it does not owe, although there is no guarantee of receipt.
This determination is supported by legal interpretations that challenge the company's tax liability under Section 280E of the Internal Revenue Code.
The restrictive IRS code bans tax deductions at the federal level for state-licensed medical cannabis businesses.
According to Viridian Capital Advisors, a financial and strategic advisory firm, eliminating this provision would have a more ...