Michigan Marijuana Dispensary Stuck with $520,000 Tax Bill

A Michigan cannabis dispensary owes nearly $520,000 in corporate income taxes and interest after being denied a deduction available only to businesses holding a particular type of license, a state tax tribunal said in an order released Friday.

The Michigan Regulation and Taxation of Marihuana Act provides deductions to recreational cannabis vendors. The Medical Marihuana Facilities Licensing Act provides deductions to medical cannabis vendors.

• Lake Effect Group LLC said it was entitled to a deduction for recreational dispensaries because the company possessed a medical license
• The Michigan Tax Tribunal had held that because the two licenses are governed by separate …