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.
When California voted to legalize recreational marijuana use in November, few people were as thrilled as Steve DeAngelo.
Welcome to the First Church of Cannabis Inc., approved by Indiana’s Secretary of State under its controversial Religious Freedom Restoration Act. Even bigger that state law approval, the church has even been granted tax-exempt status by the IRS.
Voters in Oregon, Alaska, and Washington, D.C., will decide Tuesday whether to legalize the sale of recreational marijuana.
DEA and IRS agents backed up by Denver and other state and local law enforcement raided a number of Denver area medical marijuana dispensaries and grow operations Thursday.
The tea party has company. For the past several years, the Internal Revenue Service has been systematically targeting medical marijuana establishments, relying on an obscure statute that gives the taxing agency unintended power.
Dispensaries providing marijuana to doctor-approved patients operate in a number of states, but they are under assault by the federal government.
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.
If you live in a state with legal medical marijuana dispensaries you probably know that the feds do what they can to stamp them out. It’s that old federal versus state law tension. In the case of pot dispensaries, the tension is palpable.
The booming medical-marijuana industry in Washington is struggling to gain business legitimacy. Already on shaky legal footing because of the conflict between state and federal law, dispensaries are bogged down by troubles with banking and federal taxes.