IRS 280E: A Real Bummer For The Marijuana Industry

The sale or distribution of marijuana is still a crime under federal law.  The impact of IRC § 280E is to limit the taxpayer’s business deductions to the cost of goods sold.

BY LARRY J. BRANT As a general rule, in accordance with IRC § 162(a), taxpayers are allowed to deduct, for federal income tax purposes, all of the ordinary and necessary expenses they paid or incurred during the taxable year in carrying on a trade or business.  There are, however, numerous exceptions to this general rule.  One exception Read the full article…

Marijuana Producers Gobble Up Warehouse Space In Denver Area

Legal cannabis growers and distributors took up a third of all the warehouse space leased in Colorado over the past 18 months.

COLORADO:  Steve Badgley has been hunting for a larger warehouse in the Denver area for more than a year. But his construction-supply business keeps getting squeezed out by a new entrant into the real-estate market: the marijuana industry. Since voters in Colorado and Washington legalized recreational use of the drug in 2012, growers and distributors have Read the full article…

Illinois’ Medical Marijuana Businesses Are Hiring

Companies have begun hiring in anticipation of opening in the coming months, attracting a diverse set of candidates willing to take a chance on a medical marijuana business with an uncertain future so they can get in on the ground floor.

ILLINOIS:  As Illinois’ fledgling marijuana industry slowly gets underway, some companies have begun hiring in anticipation of opening in the coming months, attracting a diverse set of candidates willing to take a chance on a business with an uncertain future so they can get in on the ground floor. Take Rick Bower, 58, of downstate Read the full article…

Marijuana Growing Spikes Denver Energy Demand

Surging electricity consumption by Colorado’s booming marijuana industry is sabotaging Denver’s push to use less energy

COLORADO:  Surging electricity consumption by Colorado’s booming marijuana industry is sabotaging Denver’s push to use less energy — just as the White House perfects a Clean Power Plan to cut carbon pollution. Citywide electricity use has been rising at the rate of 1.2 percent a year, and 45 percent of that increase comes from marijuana-growing Read the full article…

What ’60 Minutes’ Didn’t Tell You About Legalized Marijuana

The ’60 Minutes’ piece, called ‘Colorado Pot,’ noted that it isn’t easy to make money in legalized marijuana, but then like most of these general stories, zoomed in on the giant safe full of cash.

COLORADO:  On Sunday night, ’60 Minutes’ revisited a story it had previously aired on the state of Colorado’s legalized marijuana industry, going back to the state in order to get an update. The story gave a great broad overview of the industry, but by trying to cover so many parts of this business, many things were Read the full article…

Marijuana Investors, Suppliers Gather For Investment Conference

"We feel there is a very close parallel between the typical Houston high net worth oil and gas investor and the cannabis investor," said organizer Doug Leighton. "Very high risks, but very high reward."

TEXAS:  Marijuana is illegal in Texas, but that didn’t stop suppliers and investors of the legal marijuana trade from coming together at the Westin Hotel in Memorial City. More than 100 people attended the two-day Marijuana Investment Conference on Oct. 5-6, the first of its kind in Texas. “We feel there is a very close Read the full article…

The Marijuana Show – In Search Of The Next Marijuana Millionaire

The Marijuana Show is in search of the next brilliant business idea that will take the marijuana industry by storm.

COLORADO:  Imagine the Shark Tank–but with pot. Welcome to The Marijuana Show. National business guru consultants Karen Paull and Wendy Robbins are looking for the next Marijuana Millionaire. Between the two, they have decades of invaluable business experience in inventions and consulting. This industry has grossed $30 million for Colorado in taxes so far this year. No longer shrouded in cliché stoner stereotypes, the pot industry is Read the full article…

These People Left Respectable Corporate Jobs To Work In The Booming Marijuana Industry

There are plenty of people flocking to the industry simply because they love pot.

COLORADO:  In late 2010, Derek Peterson was fired from his job as a vice president at Morgan Stanley, where he had been managing a $100 million fund. But instead of looking for another job on Wall Street, Peterson decided to dive head first into the marijuana industry side project that had gotten him fired in Read the full article…

A Marijuana Tidal Wave?

Supporters make hemp, which is the cousin of marijuana but contains little of the psychoactive chemical in marijuana, sound like a wonder crop. It can be used to produce products as varied as hemp seed, hemp oil, cloth and energy-producing biomass, about 25,000 different products in all.

The marijuana industry just got a critical boost in its effort to become a massive and completely legitimate business. On Friday, two federal law-enforcement agencies released coordinated statements clearing the way for banks to take deposits from and offer financial services to marijuana producers and retailers without fear of prosecution for money laundering. To say Read the full article…

Here's How Many Pot Shops Will Open In Denver After Weed Is Legal

Marijuana retailers will offer deep discounts for cannabis products like pipes and vaporizers on "Green Friday."

COLORADO:  As few as five to ten Denver-area pot shops may be allowed to start selling recreational weed when Colorado’s landmark law goes into effect on January 1, despite more than 100 businesses waiting for approval from the city. Dispensary owners say they’re facing delays that could prevent a vast majority of shops from being able to Read the full article…