MJ Biz
The U.S. Supreme Court confirmed for a second time that it will not enter the legal fray between a number of marijuana businesses and the IRS.
According to Law360, the nation’s highest court again declined to hear appeals from Standing Akimbo and Eric Speidell, who owns The Green Solution and other marijuana businesses, in a long-running fight over the impact Section 280E of the federal tax code has on the cannabis sector.
The Colorado plaintiffs had attempted to persuade the justices that their cases were worth hearing in the wake of:
- Justice Clarence Thomas’ comments in June that federal marijuana prohibition “may no longer be necessary.”
- Allegations that the IRS had retaliated against the plaintiffs with additional tax assessments.
Standing Akimbo tried to argue that the IRS had no right to the company’s state tax records during the course of a federal tax audit.
Read more https://mjbizdaily.com/us-supreme-court-passes-again-on-hearing-irs-marijuana-lawsuits/
