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...
“Kushy Punch” Loses Its State Cannabis License For Engaging In Illegal 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 controlled substance due to the...
California Raising Cannabis Taxes In 2020 The California Department of Tax and Fee Administration (CDTFA) which oversees the reporting and collection of taxes for the California cannabis industry under Emergency Regulation 3700 established a new category and tax rate...
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...
Kern County Sheriff’s Office Seizes 10 Million Marijuana Plants In 11 Hemp Fields 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 controlled substance due to...
Cannabis Church Going High Tech To Become A New Orlando Florida Attraction. In an article published July 22, 2019 in High Times, it is reported that an Orlando, Florida cannabis church known as “Reflections Ministry” is producing a new cannabis-inspired multi-sensory...
SAFE Banking Act Passes The House To End Cannabis Banking Prohibition – If You Can’t Beat Them, Then Join Them! Under Federal law (Controlled Substances Act 21 U.S.C. 801) marijuana is designated as a Schedule I controlled substance due to the historical belief that...
DEA Taking Action To Improve Access To Cannabis Research The Drug Enforcement Administration (“DEA”) announced on August 26, 2019 that it is moving forward to facilitate and expand scientific and medical research for marijuana in the United States. The DEA is...
