Browsing: IRS

CANNABIS CULTURE-  Last week, United States Senator Cory Booker (D-NJ) introduced legislation to federally regulate the $6.7 billion US cannabis industry.  In the bill, Booker details the combined injustice forcing the industry to operate in cash and making producers vulnerable to both criminal prosecution and tax rates as high as 70 percent.
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Lynnette M. Shaw, the colorful pot activist who opened the first licensed medical marijuana dispensary in the United States, is fighting an Internal Revenue Service bill for $1.27 million in back income taxes and penalties and has filed for personal bankruptcy, listing $276,000 in state sales taxes among her debts.
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