Protax Consulting Services, Inc. Blog IRS: Marijuana remains a Schedule I controlled substance; Internal Revenue Code Section 280E still applies

The IRS reminds taxpayers that just because many states have legalized the sale of Marijuana, at the Federal level Marijuana still remains a Schedule I controlled substance and under IRC Sec 280E taxpayers may not claim any deductions or credits for any amounts paid or incurred in carrying on a Marijuana trade or business that The post IRS: Marijuana remains a Schedule I controlled substance; Internal Revenue Code Section 280E still applies appeared first on Protax Consulting Services.