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
Hearing in alleged false crime lab marijuana reporting dropped this week
OTTAWA COUNTY, Mich. – The evidentiary hearing originally set for Nov. 5 has been dropped in the case involving a medical marijuana patient charged with a disputed felony for synthetic THC, the psychoactive ingredient in marijuana. The Ottawa County Assistant...
“A non-stop political game:” Former MSP Forensic Science director on false marijuana reporting …
DEWITT, Mich. – A former director of Michigan State Police Forensic Science addressed the serious allegations FOX 17 uncovered, which accuse the Attorney General’s office and state prosecutors of influencing state police crime labs to falsely report marijuana;...
Michigan’s medical marijuana law circumvented by crime labs’ THC reports, attorney charges
Posted on MLive 10/30/15 OTTAWA COUNTY, MI – An attorney claims prosecutors pressured state police crime labs to change the way THC, the active ingredient in marijuana, is reported in an effort to circumvent Michigan's medical marijuana law. Michael...
Medical-Marijuana Patient Alleges Prosecutors Swayed Crime Lab Drug Tests
Fri, 10/30/2015 - 4:11pm A Michigan medical-marijuana patient claims in court papers that state police crime labs are bending to pressure from prosecutors in analyzing marijuana samples, leading to harsher punishments. Maxwell Lorincz, 35, was originally...
Allegations: MSP falsely reporting marijuana, targeting card-carrying patients
SPRING LAKE, Mich. – The defense representing a Spring Lake father facing a felony marijuana charge is accusing Michigan State Police Forensic Science Division crime labs of misreporting marijuana intentionally. It’s an allegation with statewide implications. ...
When Being Hated…Is Revered
By Attorney Michael Komorn " Lieutenant, this lawyer is a pain in the ass, I can't stand him, I really hate him" This was my client's observation of the prosecutor after exiting the conference room she and I had been in for over an hour discussing and...
Lawyer slams decision to deny cannabis to autistic kids
"Allowing medical marijuana for those with autism was supposed to be the clinical trial," Komorn said. "Instead, we're going to have criminal trials." Lawyer slams decision to deny cannabis to autistic kids The Detroit News Article August 28, 2015 - Lansing —...
Father fighting to use medical marijuana concentrates
April 23, 2015 - In Western Michigan yet another Michigan Medical Marijuana patient is fighting for his freedom in a system of confusing laws. He is also fighting for the right to see his child all while the State of Michigan possibly destroys his family and...
Prosecutors drop marijuana charges against Michigan mom
Aug 5, 2015 - After a year long battle, Michigan Attorney Michael Komorn and his staff have chalked up another positive conclusion for a client caught up in the medical marijuana and forfeiture debacle. Some may consider it a win, but this slow ruination of a family...
Security Systems – You should have one!!
For most... a security video system is a tool to protect themselves from liability, false accusations and identify activities around their home or business. For some, such as thieves, those who make false accusations and liars...it works against them. There...
