Section 280E of the tax code is making legal marijuana businesses to pay up to 70% in taxes effectively. This post from The Daily Beast highlights how the legit marijuana industry has been crippled by old tax laws. A law passed in the ‘80s to prevent drug dealers from getting tax breaks is now taking a huge chomp out of legitimate outfits in Colorado and ... Continue Reading
Tax
Marijuana Tax Revenue Exceeds That from Alcohol in Colorado
Colorado’s marijuana tax revenue has reportedly exceeded the tax revenue generated from the alcohol industry, despite rumors of a thriving marijuana black market. This post from High Times discusses the reasons responsible for the difference in tax revenue generated from marijuana and alcohol. The state of Colorado, which is considered the forefather of the fully legal ... Continue Reading