Tag Archives: IRS

Tax Problems Plague Marijuana Industry

Although it was originally intended as a way to prevent traffickers of illegal drugs from benefiting from tax deductions, Section 280E has since become a thorn in the side of legal marijuana dealers all over the United States. Implemented in 1982, the provision in the U.S. tax code was originally intended to prevent dealers in […]

Marijuana Dealers Hit Hard By The IRS

Marijuana dispensaries in the United States may be operating within the bounds of state law, but they might as well be illegal as far as the IRS is concerned. Although allowed to conduct business in 18 states in the U.S. and in Washington D.C., hundreds of dispensaries are subject to exorbitant tax rates–as much as […]

Tax Laws Target Medical Marijuana Industry

Tax laws are notorious for being difficult to deal with, but the laws regarding the taxation of marijuana are especially challenging. At present, 18 states and Washington D.C.  have legalized the use of marijuana for medical purposes, and Colorado and Washington have even decriminalized recreational use. Even so, the IRS basically places legal marijuana dealers […]

Arizona Attorney General To Tax Pot

Phoenix (Wednesday January 26, 2011) – Attorney General Tom Horne today announced that he is recommending to the Arizona Department of Revenue that medical marijuana, made legal in a recent initiative, be taxed by the State. Horne stated, “I was opposed to the medical marijuana initiative during the 2010 election, but it was passed by […]