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Trulieve Files for $143 Million Tax Refund

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Trulieve Cannabis Corp. has filed amended federal tax returns with refund claims of $143 million for several of its business entities for the years 2019, 2020, and 2021.

Trulieve has stated that it believes it does not owe the money, however, there is no guarantee of receipt.

The determination is supported by legal interpretations that challenge Trulieve’s tax liability under Section 280E of the Internal Revenue Code.

The announcement followed the news that the company is relocating a medical cannabis dispensary in Melbourne, Florida.

The company has stated that the new location at 1921 Alma Drive offers greater convenience to patients in southern Brevard County.

Trulieve’s Chief Executive Officer Kim Rivers stated: “We are committed to finding the most convenient locations to best serve our Florida patients.

“This relocation improves our ability to offer our broad assortment of products and first-class customer service to the Melbourne community.”

In September, the company also announced the opening of a new dispensary in  Evans, Georgia, which will be Trulieve’s first dispensary in northeast Georgia.

“Our focus in Georgia is not only providing medical cannabis for registered patients but also to help educate people about the potential benefits for their specific conditions,” stated Rivers.

“We’re excited for the Evans location to serve as a venue for patient education and registration events as Georgia’s medical cannabis programme continues to grow.”

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