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Tax Day Is a Real Downer For Marijuana Business Owners

For owners of marijuana businesses, April 15 is one big downer.

While most business owners rush to meet the federal tax deadline and cash in on a plethora of deductions, pot store owners and growers complain that they can’t write off a single expense, even if they have state licenses.

They want the law changed, saying it’s discriminatory and outdated as more states move to legalize marijuana.

“We don’t want special favors – we just want to be treated like businesspeople,” said Nick Cihlar of Bellingham, Wash., co-owner of Subdued Excitement Inc., a company in nearby Ferndale that grows marijuana for Washington state retailers.

The ban on deductions by the Internal Revenue Service is in place for one reason: Congress has declared every pot transaction a felony crime. [Read more at the Sacramento Bee]

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