(This is a developing story and will be updated.)
Multistate marijuana company Trulieve Cannabis Corp. revealed that it has received $113 million worth of tax refunds as it challenges what it owes under Section 280E of the IRS code.
Florida-based Trulieve made waves in the U.S. marijuana industry when it announced the plan to seek $143 million worth of federal tax refunds in October 2023.
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Trulieve also is seeking $31 million in state tax refunds.
In a fourth-quarter earnings report released Thursday, Trulieve said it has:
Received $62 million worth of tax refunds during the quarter ended Dec. 31. Received “a total of $113 million in refunds to date.” Received “one rejection notice in the amount of $1.2 million.”
Trulieve
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