Would enforcing payment and accepting money from a federally illegal business cause you to be caught up in RICO, CCE and conspiracy charges that would put you away for decades? For you yes – For the government a big NO.
Multistate marijuana company Trulieve Cannabis Corp. is currently seeking a federal tax refund amounting to $143 million. The company firmly maintains that it does not owe the taxes it had diligently paid over a span of three years.
“This determination is supported by legal interpretations that challenge the company’s tax liability under Section 280E of the Internal Revenue Code,” Florida-based Trulieve announced through a recent news release.
Section 280E poses a significant obstacle for state-legal marijuana companies, as it prohibits them from deducting their standard business expenses. Consequently, these companies are burdened with substantially increased tax bills.
26 U.S. Code § 280E – Expenditures in connection with the illegal sale of drugs
No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of trafficking in controlled substances (within the meaning of schedule I and II of the Controlled Substances Act) which is prohibited by Federal law or the law of any State in which such trade or business is conducted.
More Posts
What’s required of you in a Michigan traffic stop?
July 24, 2015 Dashcam video released this week from a traffic stop shows how a confrontation between a Texas woman and the arresting officer escalated. Given the circumstances in the aforementioned Sandra Bland case, we wanted to find out what is allowed and not...
Detroit police make arrests at marijuana dispensary
The Detroit police raided and made arrests at marijuana dispensary in an article in the Detroit Free Press from July 14, 2015. Detroit police arrested two people and confiscated two firearms and drugs during a raid on a marijuana dispensary Tuesday afternoon. Police...
Michigan Medical Marihuana Patient Bill of Rights
On November 8th, 2008, by a majority of 63 percent, the citizens of the State of Michigan voted into law the constitutional initiative, Initiated Law 1 of 2008, ratified into law December 4, 2008, herein referred to as the Michigan Medical Marihuana Act, MCL 333.26421...
Colorado Supreme Court: Employers can fire for off-duty pot use
The Colorado Supreme Court ruled Monday Jun 15, 2015, that Employers’ zero-tolerance drug policies trump Colorado’s medical marijuana laws. In a 6-0 decision, the Colorado Supreme Court affirmed lower court rulings that businesses can fire employees for the use...
How a sex toy put spotlight on Michigan civil asset forfeiture laws targeted for reform
The headlines read... "How a sex toy put national spotlight on Michigan civil asset forfeiture laws targeted for reform" "State Legislators Reconsider Forfeiture Laws That Turn Cops Into Robbers" "Why Take My Vibrator?" Cops Legally Rob "every Belonging"...
Reform Today’s Forfeiture Laws
Everyday, I get calls to my office from medical marijuana patients and caregivers who have been raided or pulled over by police. Often times, these individuals are not arrested, and little if any paperwork is left behind by the various Narcotics Enforcement Teams....
KOMORN LAW NEWSLETTER ISSUE #1 May 2015
The Michigan Legal Advisor News Letters. Read the current newsletter from Michigan's #1 Medical Marijuana Defense Attorney Michael Komorn. KOMORN LAW NEWSLETTER ISSUE #1 May 2015 Michael Komorn is recognized as a leading expert on the Michigan Medical...
Attorney Michael Komorn Lectures Students at the U of M Law School
I wanted to give a huge thanks to University of Michigan Law School Professors Howard Bromberg, Mark Osbeck and Law School class. This past Thursday I had the honor of being asked to speak about my favorite topics, the Michigan Medical Marihuana Act and the practice...
Jury Selection In Marihuana Cases
A jury trial is fundamental to our democratic system of government. Every American citizen should embrace this responsibility by participating, and ensure justice prevails. by Michael Komorn I just picked a jury in a marihuana case, there were several perspective...
Planet Green Trees Radio Episode 149-MSC People v. Koon
The best resource for everything related to Michigan medical marijuana with your host Attorney Michael Komorn. Live every Thursday evening from 8 -10 pm eastern time. By Michael Komorn The Michigan Supreme Court issued a unanimous opinion making a finding that...
