Tax Day Bad For Marijuana Industry

Unlike other businesses, they can’t write off expenses.

They want the law changed, saying it’s discriminatory and outdated as more states move to legalize marijuana.

“We don’t want special favors – we just want to be treated like businesspeople,” said Nick Cihlar of Bellingham, Wash., co-owner of Subdued Excitement Inc., a company in nearby Ferndale that grows marijuana for Washington state retailers.

The ban on deductions by the Internal Revenue Service is in place for one reason: Congress has declared every pot transaction a felony crime.

Getting the law changed will be difficult, with legalization opponents arguing that it would be a mistake to give the pot industry any tax breaks.

By: Alan

Alan Colmes is the publisher of Liberaland.