Replies to post #63673 on SUTIMCo International Inc (SUTI)

[Kool Aid Man]

Tax deductions for MJ businesses denied...

The following was just posted today. How long till this spreads to other states?

A three-judge panel of the 9th U.S. Circuit Court of Appeals--
Court Rules San Francisco Medical Marijuana Dispensary Can’t Deduct Business Expenses
http://sanfrancisco.cbslocal.com/2015/07/09/vapor-room-medical-marijuana-dispensary-deduct-business-expenses-9th-circuit-court-of-appeals/

FORBES reports...

IRS Advice On [Recreational] Marijuana: Deduct It...But Prepare For 50% Tax
http://www.forbes.com/sites/robertwood/2015/01/24/irs-advice-to-marijuana-dealers-dude-deduct-it-but-prepare-for-50-tax/

Seems "profits" will be harder to come by as these businesses are taxed into oblivion.