Two-time BAFTA nominee and West Suffolk College lecturer Sam Read, and student Iain Walker created the game Trolley Problem Inc, which is available worldwide.
Section 280E of the Internal Revenue Code prohibits taxpayers who are engaged in the business of trafficking certain controlled substances (including, most notably, marijuana) from.
Highlights
Section 280E of the Internal Revenue Code (Code) prohibits the
deduction of business expenses when the trade or business consists
of trafficking in controlled substances.
As cannabis continues to be legalized and regulated at the
state level, marijuana (i.e., cannabis) remains an illegal
controlled substance at the federal level subject to the
prohibitions of Section 280E.
The IRS continues to audit and litigate against businesses
trafficking in controlled substances (within the meaning of Section
280E).
As Congress continues to deliberate the federal legalization of
marijuana, the cannabis industry continues to face scrutiny from
the IRS under Section 280E of the Internal Revenue Code (Code).
IRS Continues to Audit and Litigate Against Cannabis Businesses | Holland & Knight LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.