The Internal Revenue Service has ruled that legally operating medical marijuana businesses cannot take normal tax deductions like rent, payroll, security or equipment. The IRS cites a 25 year old law passed under the Reagan "War on Drugs" that was meant to deal with traffickers in drugs.
Harborside Health Center here in Oakland is cited as "a model for the industry" but the CEO is quoted as stating that either the IRS ruling is gets modified or Harborside will be out of business. The 90 day appeal window is now open but one has to wonder if the federal government headed by a supposedly compassionate liberal will not continue on the course of prohibition and infringement on the rights of citizens and in this case seriously ill citizens.
Here is the full MSNBC story.
Harborside Health Center here in Oakland is cited as "a model for the industry" but the CEO is quoted as stating that either the IRS ruling is gets modified or Harborside will be out of business. The 90 day appeal window is now open but one has to wonder if the federal government headed by a supposedly compassionate liberal will not continue on the course of prohibition and infringement on the rights of citizens and in this case seriously ill citizens.
Here is the full MSNBC story.
