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- Title
MEDICAL CANNABIS DISPENSARY DEDUCTIONS DENIED BY THE TAX COURT.
- Authors
VINCENT, SCOTT E.
- Abstract
The article presents a court case in which the U.S. Tax Court affirmed the rejection of deductions and imposition of penalties by the Internal Revenue Service (IRS) in relation to a medical cannabis dispensary. In the case San Jose Wellness v. Commissioner, the former deducted various expenses related to its dispensary. The court upheld the IRS' disallowance of depreciation and charitable deductions and the imposition of penalties.
- Subjects
LEGAL judgments; UNITED States. Tax Court; INCOME tax deductions for losses; MEDICAL marijuana; MARIJUANA dispensaries; UNITED States. Internal Revenue Service; FINES (Penalties)
- Publication
Journal of the Missouri Bar, 2021, Vol 77, Issue 2, p84
- ISSN
0026-6485
- Publication type
Article