Marcum CPA- Partner Neil Prasad Says As 280E Goes Away, It Will Lead To More Cash Flows; I Am A Lot More Excited And More Bullish About Next Cycle
Portfolio Pulse from Benzinga Newsdesk
Neil Prasad, a partner at Marcum CPA, expressed optimism about the future of the cannabis industry as the 280E tax provision is expected to be removed. This change is anticipated to increase cash flows for cannabis companies, leading to a more bullish outlook for the next business cycle.
October 08, 2024 | 3:47 pm
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POSITIVE IMPACT
The potential removal of the 280E tax provision is expected to increase cash flows for cannabis companies, which could positively impact the AdvisorShares Pure US Cannabis ETF (MSOS).
The removal of the 280E tax provision would allow cannabis companies to deduct business expenses, increasing their cash flows. As MSOS is an ETF focused on US cannabis companies, it stands to benefit from improved financial performance in the sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80