Court Sides With IRS Against Colorado MMJ Business

A Colorado cannabis business has fallen short in an attempt to set a precedent for federal tax relief for the marijuana industry.

The Tenth Circuit Court of Appeals on Friday rejected a request by Total Health Concepts – a now-defunct Denver dispensary – that it overturn a U.S. Tax Court ruling that said it must give the IRS information about its marijuana-related sales in seeking business deductions for the 2009, 2010, and 2011 tax years.

The court said it could not intervene in the…

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