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Tag Archives: marijuana
Up In Smoke…Again
Where there’s smoke, there’s fire. Where there’s a marijuana business, there’s Section 280E and the desire to find a means around it. The Tax Court looked at two cases today involving semi-legal marijuana dispensaries (legal on the state level, but … Continue reading
Up In Smoke, Again
A California non-profit corporation tried to find a way around Section 280E of the Tax Code at Tax Court. Would they be successful or would yet another marijuana business fall victim to the difference between federal and state law? In … Continue reading
Up In Smoke…Again
Another medical marijuana dispensary owner found himself at Tax Court today. And another marijuana dispensary owner isn’t happy with the results, though in this case much of the damage was self-inflicted. Jason Beck owned two medical marijuana dispensaries in California … Continue reading
Where There’s Smoke…
Martin Olive operates “The Vapor Room,” a medical marijuana dispensary in San Francisco. His business, a sole proprietorship, was audited by the IRS for 2004 and 2005. He lost. He took that case to Tax Court. Back in August 2012 … Continue reading
Bad News for Medical Marijuana Dispensaries (and Espcially for the Vapor Room)
Yet another important case came up while I am on vacation. Martin Olive operates the Vapor Room, a medical marijuana dispensary in California. He was audited, and the IRS held: – That the dispensary underreported gross receipts; – Could only … Continue reading
The Tax War Against Medical Marijuana
Think what you may about medical marijuana (legal in about 17 states), there is a certainty for federal income tax purposes: Marijuana is a Class I narcotic so deducting expenses on a tax return for a marijuana dispensary is a … Continue reading
Posted in California, IRS, Tax Court
Tagged marijuana
Comments Off on The Tax War Against Medical Marijuana
More Trouble for Marijuana Dispensaries from the IRS
Back in 2007, the Tax Court ruled that a non-profit that supplied medical marijuana to terminally ill patients could not deduct business expenses related to that activity but could deduct the expenses related to their counseling and caregiving activities. It … Continue reading
Partially Up In Smoke
The Tax Court today looked into whether a non-profit corporation that provides help to the terminally ill and provides medical marijuana to the terminally ill is allowed to deduct its operating costs. The non-profit, Californians Helping to Alleviate Medical Problems, … Continue reading