Businesses that legally grow or sell marijuana have a major tax problem. IRS takes the view that even in states where it is legal to sell and use marijuana, a federal tax statue prohibits tax deductions for sellers of controlled substances that are considered illegal under U.S. law. Here, a Calif. Retail sellers of marijuana can deduct only the cost of the drugs … what it paid for the inventory. Other expenses aren’t deductible, the Tax Court says.

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