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The Impact of Section 280E on the Cannabis Industry
Emily and Morgan Paxia are a brother and sister duo who founded the cannabis investment company Poseidon. Emily: The combination of the tax code and the patchwork of different laws between states and at the federal level makes it difficult for players in the pot industry to really scale their businesses effectively. There are ways for states to mitigate some of the impact of Section 280E, they say. They point to Michigan as an example of a state that's building a less honorous tax regime even in the face of federal restrictions.