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Category: Concentrates | Posted on Mon, March, 23rd 2015 by THCFinder


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IRS Will Refund Fines To Denver Medical Marijuana Dispensary

Category: News | Posted on Mon, March, 23rd 2015 by THCFinder
 

irs marijuanaThe IRS has a provision that penalizes companies that pay employee withholdings in cash. An employee withholding has to be paid electronically, otherwise a 10% penalty is applied. That puts marijuana businesses in a very bad situation, as most banks will not work with marijuana businesses. This situation almost automatically results in a penalty for most marijuana businesses, which is obviously unfair. A medical marijuana dispensary in Denver challenged the provision, and the IRS has agreed to refund the $25,000 in penalties that the business had received. Per The Cannabist:

The Internal Revenue Service has backed away from a policy that penalized an unbanked marijuana business in Denver for paying taxes in cash, but the federal agency will not say if the approach applies industry-wide.

In a settlement with Denver-based Allgreens, a medical-marijuana dispensary that challenged the agency over its policy, the IRS said it would abate future penalties and will refund about $25,000 of fines the business was forced to pay despite having paid its federal employment withholding on time.

This is either going to be a very significant change in direction by the IRS, or it could just be an isolated case, no one knows for sure at this time. However, if the IRS doesn’t apply the rules to everyone equally, it could lead to equal protection lawsuits. Marijuana businesses have it hard enough with 280e issues, banking problems, and constant attacks from politicians. Penalizing them even further because they pay their tax bills in cash is ridiculous. Yet somehow the industry continues to succeed. Imagine what will happen if/when the industry gets to operate on an even playing field with other industries.

Source:http://www.theweedblog.com/irs-will-refund-fines-to-denver-medical-marijuana-dispensary/


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Legislators want say over legal marijuana

Category: News | Posted on Mon, March, 23rd 2015 by THCFinder

Beacon Hill legislators are working on a marijuana legalization proposal, in part as an effort to short-circuit an expected 2016 ballot push.

Advocates have long planned an initiative petition to legalize the recreational use of the drug for adults, and political analysts have expected that measure to pass in the next presidential election year.

But some lawmakers are balking at the prospect of activists unilaterally writing a law that would have such a profound effect on the state. The legislators would rather write the proposed law themselves, allow for lots of public input, and have final say on the scope and details.

“Wouldn’t it be a good idea for the Legislature to look at it ahead of time, listen to every point of view, anticipate every problem that we could, and try to do it right?” said Senator Patricia D. Jehlen, Democrat of Somerville and a lead sponsor of a bill to legalize, tax, and regulate recreational use of marijuana.

Senate President Stanley C. Rosenberg, who said he doesn’t have a strong opinion on legalization and backs a Senate panel researching the issue, added, “I think it’s better, if we’re going to do this, to do it in the Legislature than on the ballot.” Rosenberg, who is not listed as a cosponsor, later continued, “I believe if the Legislature doesn’t act on it, it will be done on the ballot.”

Opposition from top officials could doom a legislative push. Governor Charlie Baker, Attorney General Maura Healey, and Mayor Martin J. Walsh of Boston all oppose legalizing marijuana for recreational use.

But that is not stopping legislators from trying.

Read More: http://www.bostonglobe.com/metro/2015/03/22/lawmakers-mull-marijuana-legalization/golTlLjcXUbSjuBqHyFmaN/story.html


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Will Ohio legalize marijuana this year?

Category: Legalization | Posted on Mon, March, 23rd 2015 by THCFinder

The race to make Ohio the fifth state to legalize marijuana starts this week, as activists seek the Midwestern, swing-state win that would cement their momentum nationwide.

The bipartisan Ohio Ballot Board on Friday approved a proposed amendment to the state constitution that would

allow pot use by adults over the age of 21,

legalize medical marijuana for minors, with parental consent,

limit the commercial growth of marijuana to 10 sites owned by the investors that are paying for the ballot campaign. Adults over the age of 21 would be able to obtain a license to grow up to four marijuana plants for their personal use, but not for sale.

Now, supporters must gather nearly 306,000 signatures by July to reach their goal of qualifying for the November 2015 ballot – a target well within reach for the wealthy investors and the experienced campaign team they're paying to gather the signatures and market the measure.

Still, the proposed amendment, with its limit on commercial growers, faces opposition from some of Ohio's longtime marijuana proponents. They're pushing alternate measures.

"Those people … have invested their lives and taken great risks to get us to where we are today," said Keith Stroup, an attorney with the National Organization for the Reform of Marijuana Laws. "We would like the market to be open to small- and mid-sized growers, not just the big guys."

Read More: http://www.cincinnati.com/story/news/politics/elections/2015/03/22/will-ohio-legalize-marijuana-year/25205935/


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