TaxConnex

JUNE 17, 2021

Legalization of cannabis and how it would be taxed has been a discussion for many years. But as states continue to pass laws legalizing the sale of cannabis, the businesses trying to capitalize on the market are struggling with the complexities of taxation as it differs from other sales. Ever-changing scene nationwide.

Legal 144

Legal Illinois Nevada Oregon 144

CPA Practice

AUGUST 21, 2023

Section 280E of the federal tax code bars marijuana firms from claiming business expenses on their federal tax return other than for their cost of goods sold. It doesn’t matter that the use and sale of marijuana are legal under the laws of the state where the business is located.

income tax 98

income tax Tax tax return Oregon 98

CPA Practice

JULY 28, 2023

While much of this recent regulatory movement has mainly applied to digital and remote sales, ecommerce and marketplace facilitators the question of where, when and how sales and other digital taxes should be applied, indicates that state and local governments are also mining less visible, but foreseeable revenue alleys.

Maryland 52

Maryland Tax Virginia West Virginia 52