An enormous huge oops from the Organic Cannabis Foundation and Northern California Small Business Assistants who’ve been interesting 280e resolution.
Now they missed a deadline by a day as a result of they didn’t use an authorised supply service
MJ Biz stories….
One day is essential relating to submitting courtroom appeals, particularly for those who don’t use an authorised supply service.
That’s what two California marijuana firms realized when the U.S. ninth Circuit Court of Appeals, primarily based in San Francisco, threw out their problem of an almost $2 million mixed tax invoice.
Organic Cannabis Foundation and Northern California Small Business Assistants (NCSB) have been making an attempt for years to enchantment an IRS resolution that they have been topic to the onerous Section 280E, which doesn’t enable tax deductions associated to marijuana due to its unlawful standing federally.
The Tax Court mentioned the petition for a overview of the IRS resolution lacked jurisdiction as a result of it got here after the deadline, and the Circuit Court this week affirmed that call.Their enchantment to the IRS resolution was as a result of U.S. Tax Court in Washington DC on April 22, 2015. It was delivered by way of FedEx “First Overnight” at 7:35 ET on the morning of April 23, 2015, in keeping with courtroom information.
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