Posted by Caren Woodson
…And the hits just keep coming!
Despite the DOJ memo and our best efforts the federal government continues to engage innovative tactics to continue their campaign of interference with state medical marijuana laws. The latest tactic is to use an antiquated tax code to prohibit medical marijuana dispensing facilities from taking IRS deductions and credits attributed to amounts paid or incurred during the taxable year. ASA has confirmed that several medical cannabis collectives in California are now being (and have in the past been) targeted by this very law under the guise of federal tax audits. These “audits” seem to be unfairly applied, especially as they appear to target the largest collectives serving the greatest percentage of the population.