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The IRS Offers Some Clarity on Tax Deductions in the Cannabis Industry

Veriheal

When it comes to the burgeoning cannabis industry in the United States, one subject that comes up over and over is taxes. For many states, tax revenue is a motivating factor when it comes to legalizing cannabis. And cannabis users are not the only ones being taxed. The New Plan For Cannabis Businesses .

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New Mexico: State Court of Appeals ruling that medical marijuana producers can claim a tax deduction for prescription medication

Cannabis Law Report

SANTA FE – A state Court of Appeals ruling that New Mexico medical marijuana producers can claim a tax deduction for prescription medication could affect prices for 80,000 or so enrolled patients statewide – and the state budget. A tax department spokesman said Friday that the agency was reviewing the ruling and weighing legal options.

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Article: At Least We Now Know Why Weedmaps Didn’t Want to Get Rid of the Illegal Listings on Their Website

Cannabis Law Report

Weedmaps, or now known as WM Technology on Wall Street, had a horrendous stretch of bad news and dismal financial reporting over the past few weeks. Arden Lee, CFO of WM Technology said: California, which is our largest market at just over 60% of revenue have lower end market retail sales in Q3 versus Q2 of this year.

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Ontario Cannabis Lottery – the Only Draw Where Everyone Loses

WeedAdvisor

Basically, Ontario made a small fortune telling businesses that they now have the privilege to pay taxes and more fees. While we get to drive away with a brand new vehicle, we also get to put the taxes, insurance and maintenance in our back seat. You can find more information in our site’s E-News section.

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You can now get a license to grow and sell cannabis from the state of California

Meadow

Those are not going to get you your tax break. And then lastly just this adult use versus medical, that card thing I was talking about, really important on the tax side. First and foremost the biggest news in emergency regs on delivery was there is actually a new delivery license. Back to more delivery stuff.