The marijuana industry remains in a difficult position when it comes to the federal tax implications for those involved in that industry. There is more detail here regarding the tax trap facing the marijuana industry. The United States Tax Court (Court) issued a decision in Patients Mutual Assistance Collective Corp., et al. v. Comm’r of [...]
The marijuana industry has experienced a nationwide boom in the last five years. In 2013, the marijuana industry realized approximately $1.5 billion in sales. In 2017, the industry realized approximately $9 billion in sales. Those numbers will, likely, only continue to rise as more and more states continue to legalize recreational marijuana. In spite of [...]