Federal Court Rules Cannabis Brand Liable for $4.2M in Taxes

Ganjapreneur
By TG BranfaltFeb 19, 2021, 1:12 pm251 pts
The U.S. Tax Court on Wednesday ruled that California medical cannabis operator San Jose Wellness, a subsidiary of Harborside, is liable for $4.2 million in taxes because federal law prohibits it from claiming depreciation and charitable contribution deductions, Law 360 reports. In the opinion, U.S. Tax Court…

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