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The 9th U.S. Circuit Court of Appeals has rejected a bid by one of the nation’s largest marijuana dispensaries to exclude or deduct millions of dollars from its taxable income as business expenses, finding that the federal prohibition of marijuana did not allow it to do so.
Circuit Judge Daniel Bress, writing for a unanimous panel, said Thursday that the appeal by Patients Mutual Assistance Collective Corp, doing business as Harborside Health Center, had failed to preserve for appeal its constitutional challenge to the tax law forbidding deductions in connection with the sale of illegal drugs, as well as its argument that it was entitled to exclude business costs under a U.S. Treasury regulation.
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