MJ Biz reports
The U.S. Supreme Court took a pass on a cannabis business tax case, marking another legal defeat for industry advocates attempting to overturn the onerous Section 280E of the federal tax code.
According to Law360, the justices decided not to hear any arguments in an appeal from Eric Speidell, owner of Colorado-based The Green Solution.
Speidell and his industry allies had attempted to argue – but lost at the 10th Circuit Court of Appeals – that the IRS lacked the authority to request state information as part of investigations into alleged federal tax crimes.
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