Section 280E is a federal tax code provision that prohibits businesses involved in trafficking Schedule I or Schedule II controlled substances from deducting ordinary business expenses. Jennifer Benda, a Partner with Holland & Hart, covers tax strategies for state-licensed cannabis companies, including structuring considerations, inventory costing, and expense apportionment to minimize tax liabilities. She also addresses documentation best practices, strategies for IRS audit defense, recent tax court rulings, and the potential repeal of Section 280E.