Huffington Post -by Matt Ferner
Nearly half of U.S. states have legalized marijuana in some form, whether medical or recreational. But marijuana remains illegal under federal law, and as a result, the legitimate businesses selling the drug are subject to sky-high tax rates.
Dispensaries can’t deduct traditional business expenses like advertising costs, employee payroll, rent and health insurance from their combined federal and state taxes. That means dispensary owners around the U.S. often face effective tax rates of 50 to 60 percent — and in some states, those rates soar to 80 percent or higher, according to members of the pot industry who spoke to The Huffington Post. Continue reading “The Feds Won’t Legitimize Pot, But They’ll Still Tax The Hell Out Of It”

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