An owner of a medical marijuana business convicted for tax crimes after failing to disclose that business to the IRS didn’t properly raise a challenge to Congress’s constitutional authority to tax marijuana, the Sixth Circuit said Thursday. Ryan Richmond appealed after a district court in Michigan ordered him to pay $2.78 million in restitution to the IRS and serve a 24-month … [Read more...] about Marijuana Business Owner Stumbles in Constitutional Tax Appeal
IRS
Accounting group pushes for clarity as questions around cannabis tax rules mount
The high court's Chevron ruling adds a new dimension to calls for a clear transition framework. The Internal Revenue Service faces mounting pressure to clarify cannabis tax rules, as a key Supreme Court decision threatens to upend the agency’s interpretative authority and rescheduling looms large over the industry. The American Institute of CPAs in a letter this week urged the … [Read more...] about Accounting group pushes for clarity as questions around cannabis tax rules mount
Chart Of The Week: The IRS Grabbed The Cannabis Stock Market’s Attention
Biden’s disastrous performance in the first debate raised fears of a new Trump administration and the actions that he could take affecting cannabis. We view this as essentially a non-event. S3 is moving down the pike on auto-pilot without any active management from the president. We also doubt that Trump, if elected, would choose to interfere with the rights of States to run … [Read more...] about Chart Of The Week: The IRS Grabbed The Cannabis Stock Market’s Attention
