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re: IRS Taxing Colorado Weed Stores Into Oblivion
Posted on 11/4/14 at 11:30 am to TigerMyth36
Posted on 11/4/14 at 11:30 am to TigerMyth36
It's not that. There's a wrinkle in the tax law that illegal business have to file taxes even though it's illegal, which is what these people are doing. The problem is that running an illegal business doesn't give you the same tax deductions as running a legal one.
3
Posted on 11/4/14 at 11:36 am to iAmBatman
quote:
There's a wrinkle in the tax law
Not really a wrinkle. They've had that or something similar on the books for damn near 70 years.
Al Capone says hi. Well, he would if warn't graveyard dead.
Posted on 11/4/14 at 11:39 am to iAmBatman
quote:
There's a wrinkle in the tax law that illegal business have to file taxes even though it's illegal
That's not a wrinkle, that's tax law. Income is broadly conceived - whether obtained by legal or illegal means - and is subjected to income tax unless specifically excluded by congressional acts.
Posted on 11/4/14 at 11:44 am to iAmBatman
quote:
It's not that. There's a wrinkle in the tax law that illegal business have to file taxes even though it's illegal, which is what these people are doing. The problem is that running an illegal business doesn't give you the same tax deductions as running a legal one.
Congratulations on being the only person in this thread who actually read the article. These businesses that are legal where they exist are being subjected to a different tax code that makes it almost impossible for them to stay in business. The IRS is indirectly aiding the black market and the cartels, and it's obviously what they WANT.
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