Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

Is those US states where marijuana is now legal to sell, what tax problem is attached to this?

Deductability
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
Dr. Daniel Erasmus
All costs associated with the sale/marketing of marijuana will NOT be tax deductible, as selling marijuana remains a federal offense. Anything done that is a federal offense disqualifies taxpayers from deducting expenses. So ALL the income is taxable, but none of the expenses are deductible.
Leave a Comment 395 weeks ago

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

INCREASE KNOWLEDGE WITH EVERY ISSUE OF TAXCONNECTIONS

 

Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today