Law360 (June 18, 2020, 9:54 PM EDT) — The Ninth Circuit on Thursday tossed two California cannabis companies’ challenges to the tax law that bars marijuana businesses from taking deductions because the petitions seeking review of a nearly $2 million tax bill arrived one day too late. The decision shuts the door on a five year dispute between the IRS and two affiliated companies, Organic Cannabis Foundation LLC and Northern California Small Business Assistants Inc. , which share the same ownership and operate four dispensaries in California. The appeal turned on a fateful 2015 decision on the part of a secretary for the dispensaries’ attorneys to send the petitions to the…
Published: June 19, 2020
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