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New Mexico Lawsuit Sparks Marijuana Business Tax Debate

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.

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New Mexico business tax Tax Legal 53
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Ecommerce Accounting 101

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.

Account 115
Account accountant accounted bookkeeping 115
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