Update on Volkswagen Diesel Fraud Case

We filed an action in Butte County on May 17, 2018 with the intent of having a jury decide punitive damages. We would be the first party to bring the defeat device case to jury trial.  Peer reviewed studies proved thousands of people with lung diseases died from the fraud.  


The IRS problem

Posted by Fred Fletcher on Tuesday, March 7, 2017 Under: Taxes
After the state begins issuing licenses under AB 266, the legal market will be tracked from seed to sale (or clone to sale). The State will know about every plant grown and sold in the legal market. The IRS will have access to all this information. Additionally, local permits are public record and many filed appear to expose applicants to excessive taxes by the IRS. 

Many cannabis businesses are being taxed by the Feds at a rate of 80-90% because Section 280E prohibits deducting costs of goods sold. Haborside is involved in litigation challenging Section 280E and a ruling is expected this year. Most legal experts agree Haborside's fight is futile. 

There are steps a business can undertake to offset certain risks, unless it's too late. The green rush has increased stupidity and arrogance exponentially. Careful planning and a sober consideration of potential risks is key to survival.  

In : Taxes 

Tags: ab 266  irs  cannabis  businesses   


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