1 of 1- Common Sense
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Tax Day is source of unhappiness for marijuana industry
Tax Day is source of unhappiness for marijuana industry
WASHINGTON — For owners of marijuana businesses, April 15 is one big downer.While most business owners rush to meet the federal tax deadline and cash in on a plethora of deductions, pot store owners and growers complain that they can’t write off a single expense, even if they have state licenses.They want the law changed, saying it’s discriminatory and outdated as more states move to legalize marijuana.“We don’t want special favors – we just want to be treated like businesspeople,” said Nick Cihlar of Bellingham, Wash., co-owner of Subdued Excitement Inc., a company in nearby Ferndale that grows marijuana for Washington state retailers.The ban on deductions by the Internal Revenue Service is in place for one reason: Congress has declared every pot transaction a felony crime.
Last edited by Common Sense (4/15/2015 10:40 am)
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- Rongone
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Re: Tax Day is source of unhappiness for marijuana industry
I thought we extolled the virtues of entrepreneurialism in our free enterprise economic system. But I guess some still think that federal law trumps state law . . . even though I heard somewhere that the federal government shouldn't pass any laws that impede state's rights.
Pot bad . . . Alcohol good.
- tennyson
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Re: Tax Day is source of unhappiness for marijuana industry
Tax day is a source of unhappiness for more than just the marijuana industry ! 
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
- flowergirl
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Re: Tax Day is source of unhappiness for marijuana industry
As for the "pot-ers"--Tee hee. Tough luck. That'll show ya!
- Just Fred
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Re: Tax Day is source of unhappiness for marijuana industry
The ban on deductions by the Internal Revenue Service is in place for one reason: Congress has declared every pot transaction a felony crime.
Well, that makes sense under the current law, so those involved need to bite the bullet and lobby to change the law.
- TheLagerLad
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Re: Tax Day is source of unhappiness for marijuana industry
tennyson wrote:
Tax day is a source of unhappiness for more than just the marijuana industry !
Tax Day is a source of need for marijuana, if you ask me.
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- The Man
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Re: Tax Day is source of unhappiness for marijuana industry
Instead of complaining, they should lobby to get the federal law changed, and in the meantime be thankful that their states have legalized their business, and the Feds aren't prosecuting them.