A big big oops from the Organic Cannabis Foundation and Northern California Small Business Assistants who have been appealing 280e decision.
Now they missed a deadline by a day because they didn’t use an approved delivery service
MJ Biz reports….
One day is critical when it comes to filing court appeals, especially if you don’t use an approved delivery service.
That’s what two California marijuana companies learned when the U.S. 9th Circuit Court of Appeals, based in San Francisco, threw out their challenge of a nearly $2 million combined tax bill.
Organic Cannabis Foundation and Northern California Small Business Assistants (NCSB) have been trying for years to appeal an IRS decision that they were subject to the onerous Section 280E, which doesn’t allow tax deductions related to marijuana because of its illegal status federally.
The Tax Court said the petition for a review of the IRS decision lacked jurisdiction because it came after the deadline, and the Circuit Court this week affirmed that decision.Their appeal to the IRS decision was due to the U.S. Tax Court in Washington DC on April 22, 2015. It was delivered via FedEx “First Overnight” at 7:35 ET on the morning of April 23, 2015, according to court records.
Read the full story at.