Quote Originally Posted by DenverRelief
Harborside Health Center Cannabis Club HHC | Medical Marijuana Dispensaries In Oakland & San Jose

which you speak of is likely the largest dispensary in the world, and contributed over 1 million dollars in tax revenue to the city of San Francisco.

The tax burden that you speak of is due to a portion of the IRS tax code that says businesses that deal in controlled substances aren't allowed to deduct normal business expenses.

The result is that Harborside has been told that they can't deduct rent, wages, bills, and the many many other costs of doing business from what they declare as taxable profit.

This cripples any business' ability to function financially. It wasn't a matter of poor planning to pay the tax burden. The US Government pulled the rug out from beneath them.

Luckily Colorado Representative Polis with others has introduced legislation that would amend the tax code to allow for medical marijuana centers (what we call them in Colorado).

Toking And Taxes Don't Mix, Says IRS - Forbes

It's an attempt to undermine medical marijuana at the Federal level with underhanded leverage.
so basically you cant deduct normal deductions and they didnt know that as they were operating under normal business actions. of course an attempt at undermining mj biz thats what they do, gov is less compliant and have forgotten their place. honestly, i feel like robin hood sometimes:thumbsup: