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Found 6 results

  1. Colorado's 40 casinos — and hundreds of others, including in the gaming mecca in Las Vegas — are bound by the same money-reporting rules that have made banks reluctant to let legal marijuana businesses open bank accounts, federal authorities now say. That means casinos can keep anyone associated with legal weed enterprises — from dispensary to grow operations — away from gaming tables anywhere in the country. And if they do allow them to play, casinos must file the same suspicious activity reports banks must file whenever they handle money derived from pot profits, according to the Financial
  2. NOTICE REGARDING MICHIGAN TAXES ON ILLEGAL ACTIVITIES 72 (Rev. 4-15) – Issued: September 12, 2018 Michigan’s sales tax is imposed on the retail sale of tangible personal property. Marihuana and other drugs illegal under state or federal law are tangible personal property, the retail sales of which are subject to Michigan sales tax absent an applicable exemption.1 Have you been charged with a drug crime or violation of the Michigan Medical Marijuana Act? Remain Silent and Contact Komorn Law Immediately to protect your rights and freedom 800-656-3557. This includes sal
  3. Washington and Colorado -- The first two states to legalize recreational marijuana have collectively raked in at least $200 million in marijuana tax revenue, according to the latest tax data -- and they're putting those dollars to good use. In Colorado, after about a year and a half of legal recreational marijuana sales, the state has collected more than $117 million in excise taxes from both the recreational and medical marijuana markets, according to the most recent data from the Colorado Department of Revenue. Read More...
  4. CO Attorney Claims Requiring Marijuana Business to Pay Taxes Violates US Constitution Colorado Attorney Rob Corry is asking the Denver District Court to block marijuana taxes in Colorado, claiming that requiring marijuana businesses to pay taxes violates the Fifth Amendment of the US Constitution. The Fifth Amendment protects people from self-incrimination. Corry argues that by paying taxes, marijuana sellers and growers are effectively forced to incriminate themselves under federal law, which still considers marijuana to be illegal. As a part of his case, Corry is seeking a
  5. Seattle -- A federal lawsuit is challenging Washington state’s authority to tax marijuana as long as marijuana remains illegal under federal law. The case arises from the state’s attempt to collect sales taxes from a medical marijuana dispensary. But lawyer Douglas Hiatt, who filed it late Thursday, said it could throw a wrench in Washington’s plans for collecting taxes on recreational marijuana, too. Read More...
  6. Denver -- The federal government has reluctantly agreed to let Colorado be the first state to collect taxes from the legal sale of recreational marijuana, but it also has made clear it doesn't agree with the move and may try to stop it, if isn't tightly controlled. Instead of keeping a low profile with the money, however, some Colorado lawmakers are trying the bold move of using millions of dollars they've collected so far from pot sales to seek matching funds from the federal government to keep kids off drugs. Read More...
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