What is the name of your state (only U.S. law)? Colorado
hey I'm writing an app similar to weedmaps.com or leafly.com (only dreams of being better of course!) and after a few months of coding my fingers off and making this awesome app I find myself wondering how legal it is to advertise marijuana, and specifically I keep hearing everybody talk about this Tax Code 280E and how dispensaries pay 80% tax or something crazy like that. It says
"No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of trafficking in controlled substances (within the meaning of Schedule I and II of the Controlled Substances Act) which is prohibited by Federal law or the law of any State in which such trade or business is conducted."
and the part I'm wondering about is (all of it?) the "activities that which comprise such trade or business" but I'm having a hard time understanding if it would apply to me. I'm also not sure if "advertising a drug" laws would apply to me or not. I do list the price of marijuana per gram and the location of the store.
Thank you!!
Josh.
hey I'm writing an app similar to weedmaps.com or leafly.com (only dreams of being better of course!) and after a few months of coding my fingers off and making this awesome app I find myself wondering how legal it is to advertise marijuana, and specifically I keep hearing everybody talk about this Tax Code 280E and how dispensaries pay 80% tax or something crazy like that. It says
"No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of trafficking in controlled substances (within the meaning of Schedule I and II of the Controlled Substances Act) which is prohibited by Federal law or the law of any State in which such trade or business is conducted."
and the part I'm wondering about is (all of it?) the "activities that which comprise such trade or business" but I'm having a hard time understanding if it would apply to me. I'm also not sure if "advertising a drug" laws would apply to me or not. I do list the price of marijuana per gram and the location of the store.
Thank you!!
Josh.
