The federal Tax Cuts and Jobs Act signed into law in December 2017 included two important changes to the U.S. tax code that provides incentives for businesses to invest in new security, fire protection and alarm systems.
Previously, your Cannabis operation could deduct most business-related equipment placed in service during a year, up to $500,000. For the first time, and on a permanent basis, security systems and fire protection and alarm systems are now treated as qualifying Section 179 property, despite being considered building improvements.
Beginning in 2018, your Cannabis business can now deduct the costs of new security and fire protection systems, up to a total of $1 million under Section 179, which were not eligible prior to the new law.
Don’t let this opportunity pass you by… Let NuLeaf Technologies help you map out your path to new security technology that can protect your Cannabis business.
Contact us at (410) 946-2986 or Info@NuLeafTechnologies.com