The U.S. Tax Court again ruled that Section 280E of the Internal Revenue Service tax code is constitutional and cannabis companies aren\u2019t entitled to common business deductions. The ruling\u00a0centered on a plea from Northern California Small Business Assistants, which received a tax bill and penalty from the IRS for $1.5 million for the 2012 tax [\u2026]<\/p>\n
US Tax Court rules cannabis deductions are not allowed<\/a> is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs<\/a><\/p>\n
The U.S. Tax Court again ruled that Section 280E of the Internal Revenue Service tax code is constitutional and cannabis companies aren\u2019t entitled to common business deductions. The ruling\u00a0centered on a plea from Northern California Small Business Assistants, which received a tax bill and penalty from the IRS for $1.5Continue Reading<\/a><\/span><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[165,28,9662,8940,166,29,7,9663],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/39155"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=39155"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/39155\/revisions"}],"predecessor-version":[{"id":39156,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/39155\/revisions\/39156"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=39155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=39155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=39155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nRead More: US Tax Court rules cannabis deductions are not allowed<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"