Feb. 4, 2022, 6:46 PM
Marijuana suppliers should not afforded the identical typical tax deductions as common companies, an Oregon court docket has dominated.
The Oregon Tax Court docket on Thursday upheld two state legal guidelines that reapplied to the state tax code a Nineteen Eighties-era federal tax code part, Sec. 280E, which prohibits typical expense deductions for companies trafficking managed substances, after a 2014 poll measure nullified the applying of Sec. 280E. James Wakefield, who legally sells marijuana in Oregon, had sought to successfully restore the textual content of the poll measure, which in legalizing leisure marijuana additionally “disconnected” the state tax code from Part 280E of the tax …
