Welcome
Daily Tax Report ®

Marijuana Dispensary Denied New Hearing in IRS Dispute

June 10, 2020, 9:31 PM

A Colorado marijuana dispensary was denied a rehearing from the Tenth Circuit concerning a dispute with the IRS over improper business deductions.

Standing Akimbo LLC filed a petition in May, arguing that the court misapplied the motion for summary judgment and utilized incorrect facts in it’s case. The Tenth Circuit denied this petition Wednesday, and also denied Standing Akimbo’s petition for rehearing en banc.

The move is a blow for the Denver-based dispensary disputing an IRS audit claiming it attempted to take advantage of tax deductions barred by tax code Section 280E, which disallows tax breaks for companies that...

To read the full article log in. To learn more about a subscription click here.