With the passing of i502 in Washington state along came with it a tax of 25% for all growers, processors and retailers for the sale of marijuana. Marijuana remains illegal on the federal level however when filing a federal income tax one must include income earned from all sources. If one pays taxes from a licensed grow operation the fed is thereby condone the sale of what they still consider to be a controlled substance. My question is; will the fed require a grower to pay taxes on income generated from this sort of business and if so would that make that business exempt from any federal prosecution against them? In other words if the feds decides to disregard the states decision to legalized and start busting licensed growers, once taken to court it would seem that it would just be dismissed if the fed had accepted taxes on that licensed business's revenue.
April 14, random CO/WA household, frustrated American couple sitting down at the kitchen table-a stack of tax documents piled before them.... "Hey hun, how many dimebags you sell in August...?" "How the fuck am I supposed to remember....just put ten." I want Norman Rockwell to paint this new American tribulation
That's a pretty misleading title, especially at a time when many of us are watching the news closely everyday for any hint from the feds as far as what their intentions are. As for your question - Hell Yes, the feds want their taxes regardless of whether it is legal or not. Tax evasion charges are already being used against dispensaries, growers and illegal dealers.
To this point, even if a dispensary pays taxes, the IRS may step in and disallow deductions, putting that dispensary in violation of tax laws. Our lovely feds want to have their taxes and eat assets, too. ha, feds eat ass(ets).
I'm proposing resurrecting a dead man to paint a picture and the detail you latch onto is that people have computers-presumably to aid in their taxes....welllllll okay
There should have been a question mark at the end of the title sentence. We can only tell. Barak and his guys are looking it over now. Hopefully, he won't have forgotten that he did smoke as a kid and he did turn out okay. Hopefully he'll just turn a blind eye to the whole matter. That's what I'm hoping for. Once the business gets established and money really starts to run into the government coffers, they'll change their overall attitude.
Sorry guys, tried to change the title but when I go to edit the post it only gives the option to edit the body and not the title. If anyone can tell me how to change the title I will gladly do so, again sorry to everyone.
Thanks! Got it changed. Thanks to those who actually responded to the question and didn't just complain about the title, for the rest of you that stated that they were upset about the title it's now been changed so if you don't have any further complaints about the post any answers to the posted questions would be great!