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Tax Court’s decision in Harborside A Big Challenge For CA Cannabis Dispensaries

Cannabis Law Report

Tax Court has issued a final decision under Tax Court Rule 155 on the income tax deficiency for Patients Mutual Assistance Collective Corporation (“PMACC”), the Company’s 100% owned subsidiary and owner of the iconic Harborside Oakland cannabis dispensary. million for the fiscal years 2007 through 2012.

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Section 280E and The Taxation of Cannabis Businesses

Cannabis Law Report

1] The expenses included rent, packaging, telephone, automobile expenses and the purchase of a small scale. [2] 13] Despite legalization in at least 31 states (and the District of Columbia) and approval for medical use in nine states, federal law continues to classify cannabis as a “controlled substance” under schedule I of the CSA. [14]

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