TAXES

February 9, 2024280E, 280E issues, Tax Refunds, tax strategies, TAXES420 College Seminars Cannabis industry Tax refunds Section 280E Financial strategy Business optimization Compliance Networking Diversity and inclusion, cannabis education, education for marijuana, how to open a cannabis dispensary, how to open a marijuana dispensary, how to open medical marijuana dispensary, marijuana college, tax strategiesby George Boyadjian

Harnessing the Power of Tax Refunds with 420 College Seminars

Are you a cannabis entrepreneur eager to maximize your profits and streamline your financial strategy? Look no further than 420 College Seminars, where groundbreaking insights await to help you unlock the full potential of your business. In a recent eye-opening article from Marijuana Business Daily, we uncover the game-changing opportunity for cannabis businesses to reclaim overpaid taxes through amended tax returns under Section 280E of the Internal Revenue Code. This revelation shines a light on …

When you have been doing business outside the law for 50 years, it is difficult to go straight even if it is made easy for you. Five cannabis dispensaries in Northern California were recently shut down because they were suspected of laundering money, evading taxes and failing to carry workers compensation insurance. They are also suspected of illegal cultivation and distribution of cannabis . This happened in Santa Cruz County, a land that has long …

March 11, 2019420 College, cannabis industry, cannabis taxes, TAXES280E, 420 college, cannabis taxes, CDTFA, IRS, marijuana taxes, seller's permitby George Boyadjian

Taxes and Cannabis Sales

Taxes and Cannabis Sales Every tax season you should get down on your knees and thank the god of cannabis for making state coffers so needy for money. Don’t fool yourself, tax revenues are what cannabis legalization is all about. That is precisely why you should pay very close attention to all the many rules regarding taxation for pot growers, weed distributors, and cannabis dispensaries. If you are in California you should keep …

Medical marijuana tax advances in state Senate

SACRAMENTO – The California Senate is backing a 15 percent sales tax for medical marijuana. State officials estimate the bill approved Wednesday would raise about $250 million per year, much of it for state parks, drug treatment programs and the state general fund. Democratic Sen. Mike McGuire of Healdsburg says his bill will also generate money to help local governments manage marijuana-related problems. Senators approved SB987 on a 27-9 vote, sending it to the state …

Accounting Issues in the Cannabis Industry

Before I get to my business intel, you should know that the personal tax world was roiling late last week over some fraud detected from within TurboTax. Here is the Story: http://www.forbes.com/sites/kellyphillipserb/2015/02/06/turbotax-temporarily-halts-e-filing-in-all-states-amid-fraud-concerns/ Essentially, the makers of the software detected a level of fraud occurring in state tax return submissions that made them decide to completely shut down submission of those returns for a period of time. Eventually, they determined that the apparent source of the fraud was …

August 6, 2011CO-Taxes, TAXESColorado, Colorado Sales Tax, Colorado Taxesby George Boyadjian

Colorado Town Council Sees Cannabis as Medicine | Rejects Tax Measure

COLORADO TAXES | AUG 5, 2011 | Medical Marijuana as Medicine and Non-Taxable | On Tuesday, despite evidence that the tax could yield tens of thousands of dollars in revenues annually, the council decided to leave it off the ballot. - Council member Bob Saunders said that since the town doesn’t have an excise tax on pharmaceuticals, he doesn’t see why it would tax medical marijuana.

Tax attorney - Robert W. Woods, states: "Sales tax isn’t the only issue. As I noted here, the IRS also has issues with medical marijuana. Under federal tax law, Internal Revenue Code Section 280E precludes deductions for any business trafficking in controlled substances. For that reason, some dispensaries have been stuck paying tax on their gross income, not on their net after expenses!

January 30, 2011TAXESArizona Sales Tax, AZ Taxes, Prop 203, taxation, taxesby George Boyadjian

Arizona Seeing TAX LOOP HOLE as Bottomless Pit Suggests 300% Sales Tax on Medical Marijuana

Jan 2011 - Arizona | Attorney General Tom Horne is using a loophole in Prop 203 (the medicalmarijuana law that voters passed in 2010) on which to base his sales tax ruling. The law says would-be medical marijuana patients can get a “doctors’ recommendation” for the drug– not a prescription. Prescriptions are not taxable; doctors’ recommendations are. (This is like saying your doctor recommended aspirin or multi-vitamins; when you go to buy the aspirin or multi-vitamins, they are subject to sales tax.)

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TAXES

Harnessing the Power of Tax Refunds with 420 College Seminars

You Can’t Escape Cannabis Law Enforcement

Taxes and Cannabis Sales

Medical marijuana tax advances in state Senate

Accounting Issues in the Cannabis Industry

Colorado Town Council Sees Cannabis as Medicine | Rejects Tax Measure

Robert W. Wood on Medical Marijuana and TAXES

Arizona Seeing TAX LOOP HOLE as Bottomless Pit Suggests 300% Sales Tax on Medical Marijuana

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