Quote:
Originally Posted by TheDoc
http://coloradoindependent.com/79820...source=twitter
Posted Mar 18 this year...
"The IRS is thought to have begun audits on at least 12 medical marijuana dispensaries in California under the determination that past business deductions are invalid because of a clause in the federal tax code prohibiting any business that traffics in Schedule I or II drugs from making business deductions on their tax returns. The move could bankrupt every dispensary that it targets. The first dispensary to receive a final audit decision from the IRS is the Marin Alliance for Medical Marijuana (MAMM) in Fairfax, Calif."
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Quote:
Originally Posted by Vendzilla
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oh i hear ya, just not sure what the irs is doing this for (again) 2007 tax law case on this.
+ dispensaries all state you are making a donation right? they are counselors advising you on which strains to get.
i mean it's all bogus, we all know that. nevertheless, the revenues are insane and i don't see why the irs would NOT want those tax dollars.