The U.S. Tax Court ruled on a 2½-year-old case in which California-based Harborside had hoped to end 280E’s hold over the marijuana industry’s profit margins. But the Oakland company’s hopes were dashed Friday when the court upheld the tax code. “280E continues to negatively impact the growth of the legal cannabis industry, the jobs that […]
Phoenix’s City Council on Tuesday unanimously killed a proposed medical marijuana tax that would have cost some MMJ businesses more than $1 million a year. The proposed tax became public only last week. Mayor Thelda Williams, who acknowledged her staff had worked on the proposed tax scheme behind the scenes “for a very long time,” was […]
California Gov. Jerry Brown vetoed a bill that would have given a tax break to all licensed marijuana businesses, dealing a setback to MJ companies hoping to reduce their state tax bills. The measure – Assembly Bill 1863, approved by the Legislature earlier this summer – would have allowed licensed cannabis companies to take tax deductions under […]
The state projected the tax would generate $13.6 million in the first seven months of legal recreational marijuana sales, which started last July. Actual numbers have been nearly $23 million. The post Nevada state Sen. Tick Segerblom: More marijuana tax funds for schools appeared first on The Cannabist.