0

That Case Is Ongoing And Many In The Industry Have Seen It As Potentially Ground-breaking If Thc’s Former Owners – Kellie Mcdonald And Neil And Andrea Feinberg – Can Win.

Section 280E has typically been invoked on people convicted of drug trafficking, but with the legalization of medical marijuana in 29 states and recreational sales in eight of them, prosecutions have waned. That’s especially true since the U.S. Justice Department has said it would not prosecute legitimate marijuana businesses as long as they comply with state laws. The former owners of one marijuana business, Total Health Concepts, have been among those fighting back, saying they’re entitled to claim a Fifth Amendment right against self-incrimination, leaving the IRS to find another way to prove the trafficking. That case is ongoing and many in the industry have seen it as potentially ground-breaking if THC’s former owners – Kellie McDonald and Neil and Andrea Feinberg – can win. “The IRS wants a situation where on the one hand, a person will not be prosecuted for violating the CSA when selling state-legal marijuana, but, on the other hand, will have medical marijuana their business deductions denied … for violating the same law for which the taxpayer will not be prosecuted,” RR’s motion says. “This is an Alice in Wonderland approach …” The cases are in lieu of the Small Business Tax Equity Act, a bill introduced in the U.S. Senate in March that would allow legitimate pot businesses to take the same deductions any other business can take. A similar bill was introduced in the House.

To read more visit http://www.denverpost.com/2017/05/25/irs-pot-tax-database-investigation/

Filed in: News

Get Updates

Share This Post

Recent Posts

© Colorado Medical Marijuana. 2021 All rights reserved .
Home   |   Privacy Policy