September 11, 2019
Steve DeAngelo Writes Op-Ed For LA Times “How the U.S. tax code keeps the illegal market for marijuana alive and well”
July 16, 2019
September 5, 2019
“On Tuesday, the board authorized Melekian’s office to draw up a memorandum of understanding with the state Department of Food and Agriculture for use of its “Track-and-Trace” database for 60 days. As part of this pilot program, the county will investigate 250 state cannabis licenses in unincorporated areas, beginning later this year. “
Santa Barbara County’s cannabis tax revenues for the second quarter of fiscal year 2019-20, from Oct. 1 through Dec. 31, rose 13% over the same period last fiscal year, and if the trend continues, revenues for the entire fiscal year could exceed that of last fiscal year by $3.3 million, according to a report from the County Executive Office.
In 1982, Congress enacted Sec. 280E, which reversed a Tax Court decision (Edmondson, T.C. Memo. 1981-623) that had allowed deductions incurred in carrying on the production, distribution, and sale of controlled substances. Sec. 280E reads: