Every year, the IRS collects billions of dollars from cannabis business owners. If cannabis were federally legal and taxed, then federal tax revenue from cannabis commerce could rise to $18 billion a year. This significant speculative increase in federal tax revenue would be in spite...
In 2021, the NCAA changed its archaic rules to allow college athletes to profit off of their “name, image, likeness (NIL).” This has allowed for endorsements, sponsorships, partnerships, and overall business relationships for the aspiring professionals on and off the field. Companies like “Kool-Aid,” Boost...
Watching the hypocracy of Sha’Carri and her punishment unfold has been challenging. Right out the gate, President Biden’s response is tone deaf as ever on the subject. Throwing in at the end that he is proud of her response, which was her acceptance of responsibility...
This article first appeared in Cannabis Now Taxation’s War on Cannabis A recent U.S. 9th Circuit Court of Appeals case could have a significant impact on the federal taxation of cannabis businesses, in particular IRC §280E issues. By Kenneth Ford Published on February 5, 2021 Harborside, a California cannabis...