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dukeb

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Re: Sheepdog post# 80869

Tuesday, 10/13/2015 4:24:18 PM

Tuesday, October 13, 2015 4:24:18 PM

Post# of 102952
In addition, federal law prohibits MJ businesses, such as dispensaries, from deducting any operating costs other than their cost-of-goods-sold.

Can't deduct rent
Can't deduct salaries
Can't deduct insurance
Can't deduct utilities

Revenues - Cost of product = Taxable income for IRS purposes

Fort his reason effective tax rates are often over 100% of GAAP net income.
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