Jul 10, 2015

Marijuana dispensaries can’t deduct business expenses, court says - SFGate

A San Francisco federal appeals court dealt a financial setback to medical marijuana dispensaries Thursday, saying that — unlike other commercial enterprises — they can’t deduct business expenses from their taxable income because their product is prohibited by federal law. The ruling by the Ninth U.S. Circuit Court of Appeals was also another blow to the Vapor Room, which operated as a...

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