Trulieve Challenges $143 Million in Taxes

October 14, 2023 · Green Market Report

U.S. giant Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) is seeking a $143 million tax refund from the government for payments made in 2019, 2020, and 2021.

The company argues that based on specific legal interpretations related to section 280E, it shouldn’t have been required to pay certain taxes.

“Trulieve has filed amended federal returns for three prior tax years claiming a $143 million refund for taxes already paid that the company believes it does not owe,” a company spokesperson told Green Market Report in an email.

“We are continually evaluating our tax position and will share additional information as appropriate.”

In a separate development, Trulieve announced it’s relocating a medical cannabis dispensary in Melbourne, Florida. The grand opening for the new location at 1921 Alma Drive is set for Oct. 20, promising a mix of giveaways, music, discounts, and opportunities for patient education session registrations.

“We are committed to finding the most convenient locations to best serve our Florida patients,” said CEO Kim Rivers said in a statement Friday. “This relocation improves our ability to offer our broad assortment of products and first-class customer service to the Melbourne community.” (Full Story)

In category:Business
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