Cannabis Law Report

MARCH 21, 2020

1981-623) that had allowed deductions incurred in carrying on the production, distribution, and sale of controlled substances. 173 (2007)). The production or sale of marijuana is still illegal under U.S. In 1982, Congress enacted Sec. 280E, which reversed a Tax Court decision ( Edmondson , T.C. 280E, still apply.

Business 59

Business Seed-To-Sale Cultivation Extraction 59

Cannabis Law Report

JANUARY 7, 2020

Under Federal law, cannabis is a “Schedule I” controlled substance; thus, the manufacture, distribution, dispensation, or possession of marijuana – even medical marijuana recommended by a physician – is prohibited as a matter of Federal law. [ix]. Deductions. COGS is the costs of acquiring inventory, through either purchase or production.

Business 66

Business Marijuana Seed-To-Sale Patients 66

Cannabis Law Report

JANUARY 21, 2019

of Tax and Fee Administration [“CDTFA”] is the administrative agency for business entities that are subject both to Sales Tax, and to Cannabis Cultivation TAX [“CCT”] and Cannabis Excise Tax [“CET”]. The predecessor to CDTFA, the Board of Equalization [“BOE”] was the agency that administered Sales Tax before CCT and CET.

Seed-To-Sale 40

Seed-To-Sale Business Compliance Compliance 40