LITTLE ROCK, Ark., Sept. 5, 2017 /Weed Wire/ – The Arkansas Cannabis Industry Association is pleased to announce their Tuesday, September 5th Medical Cannabis Federal Taxation Seminar at the Comfort Inn & Suites Presidential from 6-7pm.
Tag Archives: IRS
In this Cal Can Biz Expo interview, watch Kristen Fox, Editor-in-Chief of MJINews.com and Marijuana Industry News magazine, interview Jordan Gerber, President of MJIC Capital.
Stephen Goldner, Senior Forensic Toxicologist at Quantum 9, learned early on how to work with the FDA, having developed the FDA-approved liquid dose form of methadone with his mentor John Broich. Hear Goldner discuss what role the FDA would likely play in life after medical cannabis legalization.
Can a taxpayer who sells medical marijuana which is subject to the IRC §280E disallowance rules also be engaged in another business not subject to IRC §280E?
OAKLAND, Calif., /Weed Wire/ — Court is in session today June 6, through Friday June 10, leaders from Harborside Health Center are once again challenging the federal government, this time in Tax Court at the Federal Building, 450 Golden Gate Avenue in San Francisco, from 10am to 5pm.
The marijuana industry may be growing rapidly, but if you don’t know these critical points, your investment in marijuana stocks could go up in smoke.
On Feb. 8, 2016, jury selection is slated to begin in the trial against an IRS agent accused of soliciting a bribe from Have A Heart Compassion Care, a medical marijuana dispensary in Seattle.
Does the consumer have a legally protected right to cannabis at a price and of a quality determined by free market forces? Will this idea play a role in shaping state licensing schemes?
The marijuana industry faces obstacles that other legal businesses do not have to overcome, including federal taxes. Bruce Nassau, a dispensary owner in Colorado, suffered the consequences of not being able to receive tax deductions.
Section 280E of the Internal Revenue Code sharply limits the deductions legal marijuana businesses can take against federal income tax liability. It may be the biggest threat to the financial viability of many fledgling cannabusinesses.
Cannabis stocks have not enjoyed the broad market enthusiasm, which is not surprising, but it remains disappointing.
The present boom in marijuana may well have created a boom for those accountants willing to provide professional services. What is fascinating about this emerging subfield in accountancy is that no one entrant can play the “experience” card.
Tax professionals who give advice to marijuana businesses in the states where marijuana is legal should not have to suffer adverse consequences because the businesses are illegal under federal law.
Emmy winning independent journalist Ben Swann released a video detailing the hypocrisy of the federal government holding patents on medical marijuana, and the health benefits of CBD oil.
The IRS problems faced by marijuana businesses can really only be solved one way: by changing the classification of marijuana as a Schedule I drug under federal law. Doing so will unbind the hands of the IRS to relax their penalties, and it may make it easier for businesses to work with banks.
Some people are desperate to avoid taxes, but that hasn’t stopped the IRS from catching 12.6 million fraudulent returns the past two years. With that much tax fraud in play, you would think the IRS would welcome honest dispensaries willing to pay taxes in full and on time, but the revenue service remains closed to them.