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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, we look at a new proposal that would prevent cannabis companies from deducting business expenses, even if...more
While marijuana advocates celebrate the potential rescheduling of marijuana from Schedule I to Schedule III, the taxman has made clear that marijuana remains a Schedule I substance subject to Section 280E of the Internal...more
Top IRS Official Says Marijuana Banking Reform Would Help Feds ‘Get Paid’ - "IRS’s Cassidy Collins talked about the 'special type of collection challenge' that the agency faces when it comes to working with cannabis...more
The IRS has released a new webpage dedicated to the marijuana industry to help growers, processors, researchers and retailers understand and comply with their U.S. federal income tax responsibilities. The IRS Marijuana...more
More and more states across the South are adopting medical marijuana regimes. With this growth comes growing pains. One such pain for marijuana businesses is the tension between following state laws on a product that is still...more
As more and more states are allowing legal use of marijuana, medical marijuana businesses are faced with large tax bills because of marijuana’s continued classification as a Schedule I controlled substance under federal law. ...more
The recent Tax Court decision, Alterman v. Commissioner, struck yet another tax blow against the growing medical marijuana industry. ...more