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Thread: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

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    Re: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

    Quote Originally Posted by Barbbtx View Post
    IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes - Toke of the Town

    This is just stupid. They weren't required to collect sales tax???? We are talking about Ca., the state that's going bankrupt? I thought the financial gain was a reason to legalize it.
    Of course they should have to collect sales tax, just like every other business. Like other businesses, they should also have to pay taxes on their net profits. Saying that they have to pay on gross profits because they are selling a controlled substance is just not a supportable position. Do pharmacies pay on gross profits? They also deal in controlled substances.
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    Re: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

    First, I don't know if this is an "abuse" of government power. They're enforcing the laws and rules that are on the books. I don't see this any more of an "abuse" of government power than any other government action against individuals using illegal drugs.

    Second, I think those laws on the books are idiotic. And I think that if you're going to state that you're going to let California operate those businesses without federal pressure from law enforcement you should do similarly with regards to the taxes. However, I don't think its an "abuse" not to do that...I just think its underhanded and typical of a career politician who is more concerned about public image than anything else. On one hand, you can seem like you're being lienent with regards to it, on the other hand you can act like you're curtailing it.

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    Re: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

    If you are operating a legal business under the law and are legally allowed to dispense a 'controlled substance' under that law, but then you are denied the same tax deductions that other legal businesses are afforded because you distribute a 'controlled substance' (which you're legally allowed to do mind you), you're getting ****ed.

    How the **** can the federal government tell you on one hand, your business is legal, and on the other hand tell you it isn't???

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    Re: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

    Quote Originally Posted by Kandahar View Post
    Sounds to me like you didn't even understand the issue. As usual.
    Well, why don't you educate me then?

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    Re: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

    Quote Originally Posted by apdst View Post
    Well, why don't you educate me then?
    No one claimed that they shouldn't have to pay corporate tax. The issue is that the IRS doesn't want them to deduct the cost of goods sold, like every other corporation does.
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    Re: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

    Quote Originally Posted by Kandahar View Post
    No one claimed that they shouldn't have to pay corporate tax. The issue is that the IRS doesn't want them to deduct the cost of goods sold, like every other corporation does.
    Oh, I see; well that's exactly what I thought the issue was. Allow me to rephrase my earlier post: They should have to pay taxes, in accordance with the tax code, just like any other corporation has to do.

    Feel better?

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    Re: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

    Quote Originally Posted by apdst View Post
    Oh, I see; well that's exactly what I thought the issue was. Allow me to rephrase my earlier post: They should have to pay taxes, in accordance with the tax code, just like any other corporation has to do.
    Whether or not the tax code should carve out special exceptions for businesses dealing in controlled substances is the very issue being debated. Sorry, you fail.
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    Re: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

    Quote Originally Posted by Kandahar View Post
    Whether or not the tax code should carve out special exceptions for businesses dealing in controlled substances is the very issue being debated. Sorry, you fail.
    And, you say I'm the one that doesn't get it? Did you even read my post? Do you know what, "in accordance with", means?

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    Re: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

    Quote Originally Posted by Whovian View Post

    How the **** can the federal government tell you on one hand, your business is legal, and on the other hand tell you it isn't???

    Thats what we call Newspeak
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    Re: IRS Tells Medical Marijuana Dispensary It Owes Millions In Taxes

    Quote Originally Posted by Dittohead not! View Post
    Of course they should have to collect sales tax, just like every other business. Like other businesses, they should also have to pay taxes on their net profits. Saying that they have to pay on gross profits because they are selling a controlled substance is just not a supportable position. Do pharmacies pay on gross profits? They also deal in controlled substances.
    What's going on here, isn't taxing 100% of the gross profit, but rather not allowing these businesses to deduct the cost of purchasing product from a wholesaler. No doubt this applies to pharmacies who purchase cocaine, morphine, etc.

    Anyone wann take a stab at why meds are so ****ing high?

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