business tax Legal New Mexico 
PYMNTS
JANUARY 29, 2019
Paying business taxes is a key source of friction for many legal marijuana companies in the nation, particularly for companies that operate on a cash-only basis. billion in taxes during 2017 from nearly $13 billion in legal revenue from marijuana businesses. million refund. million refund.
xendoo
MARCH 21, 2022
This makes tax time much easier because the IRS will have more clarity about which of your finances are personal and which are business-related. If you set up an LLC or corporation , the IRS requires you to keep a dedicated business bank account. Sole proprietors are not legally required to do this, but it is still recommended.
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