Federal Government Enforcing Prohibition Of Cannabis On Public Lands Off-Site Manager of Marijuana Grow in Shasta-Trinity National Forest Sentenced to 10 Years in Prison The U.S. Attorney’s Office for the Eastern District Of California issued a press release on...
Weedmaps Under Pressure To Disclose Cannabis Businesses To The Feds U.S. Attorney's Office for the Eastern District of California seeks documents on roughly 30 companies from cannabis-retail listing service Weedmaps, according to grand-jury subpoena. According to a...
Why Is Taxation Related To Cannabis Businesses So Complicated? Beware 2020 Could Be A Banner Year For IRS Audits Of Cannabis Businesses. We previously reported in our blog that the Trump Administration organized a committee of federal agencies from across the...
Tips For Cannabis Businesses To Prepare for Tax Season And IRC Sec. 280E On January 6, 2020, the Internal Revenue Service (IRS) announced that it will process 2019 tax returns beginning January 27, 2020. April 15th Filing Deadline. The filing deadline to submit 2019...
Why Hire A Tax Attorney If You Are In U.S. Tax Court For IRC Sec. 280E? IRS Tax Audits in the cannabis industry can be quite tricky. We previously wrote a blog on appealing these audits. If you are involved in cannabis and dealing with an IRC Sec. 280E or other tax...
Could California Finally Get Cannabis Tax Reform? In a previous blog we reported that the California Department of Tax and Fee Administration (CDTFA) which oversees the reporting and collection of taxes for the California cannabis industry after conducting an analysis...
When Facing An IRS Tax Audit, How Do Marijuana Businesses Explain To IRS A Cash Stash Accumulated From The Past? With the proliferation of licensed cannabis businesses sprouting in the State Of California and a growing number of States, a lot of cannabis business will...
Riverside County Sheriff’s Office Releases Its Report Card On 2019 Illegal Cannabis Eradication Activity Anyone conducting business in cannabis surely knows that under Federal law (Controlled Substances Act 21 U.S.C. 801) marijuana is designated as a Schedule I...
Appealing An I.R.C. § 280E IRS Tax Audit While the sale of cannabis is legal in California as well as in a growing number of states, cannabis remains a Schedule 1 narcotic under Federal law, the Controlled Substances Act. As such businesses in the cannabis industry...
Another Cannabis Business Hit Hard By I.R.C. Section 280E In U.S. Tax Court I.R.C. § 280E disallows all trade or business expense deductions for a cannabis business even though the cannabis business operates legally under state law. As more “280E Tax Audits” make...
