Medical Marijuana

Medical Marijuana Tax Deductions Invalid, Judge Rules

Piling on the embattled medical marijuana industry

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 A once-thriving San Francisco pot shop forced to close this week is also on the hook for a serious IRS bill, following a new U.S. Tax Court decision that could complicate life for others in the medical marijuana business.

Call it a precedential bummer; or, perhaps, a rational application of tax law.

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  1. Estimates show that marijuana is America’s number one cash crop. However, marijuana remains untaxed. This is a new source of income for our nation, an income we desperately need.

    Over 500 of the nation’s top economic professors have shared their opinion in supporting the removing the prohibition and imposing the taxation and regulation of marijuana as a way to slow the federal deficit.

    Ending marijuana prohibition would save the US $7.7 BILLION annually. That is nearly as much as Congress’ proposed Budget Control Act. Think of the jobs it would create, the court time I would save and the jail space it would free up for actual criminals.

    Sign the petition below. Also, create a group, this will connect every member directly to their elected officials.

    http://www.youtube.com/watch?v=-_tUy6fylQs

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