Posted on September 16, 2013 by News Admin
A conservative anti-tax lobbyist has become an unlikely supporter of marijuana reform at the federal level. On Thursday, Grover Norquist, president of Americans for Tax Reform, told reporters that despite never trying cannabis ("absolutely not"), he is against the federal over-taxation of medical and recreation marijuana.
"There's always a slight giggle factor on the issue dealing with marijuana," Norquist tells Time magazine. "That said, this is tax policy, this is real stuff. This is important. This is everything from jobs to whether the federal government comes in and writes rules that upsets the apple cart in many, many different states."
Currently, medical marijuana business owners are prevented from deducting otherwise normal business deductions due to a clause in federal tax law that makes it illegal to deduct taxes for a business involving a federally illegal substance. The law was meant to be a way to tack on sentencing huge drug traffickers, but has proven to be a burden to state-legal marijuana distributors.
Rep. Earl Blumenauer, a Democrat from Oregon, has sponsored a bill this session dubbed the Small Business Tax Equity Act that would allow state-legal cannabis businesses to begin deducting on their taxes.
Norquist says he was made aware of the marijuana taxation problem a few months back. While he's not a pot supporter, he's a supporter of state rights and not beating up small businesses with heavy taxes.
"In Colorado and some of these other states, marijuana dispensaries are just legal businesses. They should be treated that way. But federal law makes that difficult to impossible," says Norquist. "We've got to take the IRS out of this issue."
Unfortunately, Bluemenauer's bill has been given a slim-to-none chance at being passed or even being considered by the House. Several activists have suggested that the feds aren't going to quick to cut in half a huge source of revenue.
"I think comprehensive tax reform is not something that is beyond our reach, but it is a heavy lift," said Blumenauer. "It would be nice to do a little momentum building, and have people work together on things that are common sense and have bipartisan support. And this is a classic example. What we're doing first is building the understanding of this issue and its support. But I think that this is a perfect item that can be dropped into any tax vehicle going forward."
We've helped thousands of happy customers start & run their medicinal & recreational businesses in all legal states. Whether you're serious, curious or just looking to gather information, GreenZipp can help.
Primarily through word-of-mouth alone, GreenZipp has become the company people trust to help start and run their legal marijuana businesses. For the last 4 years, people have been using GreenZipp because it's famously easy, straight forward, with no hidden costs. Combine that with our best-in-the-biz customer service, and you've got a unique and delightful offering of products and services.
We've been in business for 5 years, so you can depend on us to alleviate the anxieties and pressures of starting and running your business. Not once, has a single customer ever been in trouble with the law - ever. We're extremely proud of that number. Our job is to keep you safe and compliant with regulations and allow you to run your company without fear or anxiety. We've gone and will continue to go to the ends of the earth for our customers. Learn more about our company.
Many customers come to us saying that they've been told they need a lawyer to start their businesses. Sure, you can definitely use them, but you don't need them. Heck, you can even do it yourself if you don't mind putting in the time and making some costly mistakes from time to time. We take the complicated, confusing and time-consuming process of starting or running your marijuana business and boil it down to plain, detailed and easy-to-follow steps. Or, we can just do the whole process for you.
Here's the best part: We're so effective, lawyers and law firms hire us to service their marijuana industry clients for them.
Absolutely. You can see how our customers feel about us via an independently certified, 3rd party review website. We're extremely proud of our 5 out of 5 Star rating.
We offer a free Starter Package to help people understand the industry and us a little better. Check it out.
New business owners, seasoned entrepreneurs, investment groups and law firms all rely on GreenZipp. We've been fortunate to earn the repeat business of our customers, including some of the top lawyers and law firms in the country.
There's a lot of (mis)information out there. At best, it's usually speculation from non-professionals, old wive's tales or completely fabricated. It can be tough to navigate. With that in mind, here are a few things we've prepared for you:
GreenZipp is a medical & recreational marijuana consulting firm that's helped thousands of customers establish and run their marijuana businesses in all legal states. With industry-leading, streamlined and cost-effective products and services that abolish hourly & hidden fees, we'll be sure to make you happy.
We’ll send periodic news, new product releases and exclusive promotions.