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Category: Marijuana Business

Medical Marijuana Tax Collections

Tax Tips for Marijuana Businesses – Avoid IRS Collections Running a business is no easy task; there’s overhead, maintaining a steady stock of product, ensuring good customer service, marketing and more. Then there is the issue of taxes, which causes a great deal of stress for all business owners—but particularly for medical marijuana dispensaries. Medical… Read more »

Marijuana Business Tax Audits

Special Considerations for IRS Audits of Marijuana-Related Businesses Marijuana dispensary businesses are six times more likely to be audited by the IRS than U.S. businesses in general. These small businesses get hauled before tax examiners at the same rate as corporations that have assets in excess of $100 million. Worse, the outcomes of IRS audits… Read more »

Thinking About Getting Into the Marijuana Business?  Consult a Tax Lawyer First

The Unique Tax Burdens on Legal Marijuana Providers Every business relies on the necessary and ordinary business expenses deductions allowed by the IRS to limit their tax burden.  Imagine the problems it would cause for corporations across the country if the IRS disallowed common deductions for expenses such as wages, rent, or mortgage payments.  If you are planning… Read more »