Entries by Tax Attorney

With A 55% Increase Over Last Year, Sales Of California Legal Adult-Use Cannabis Generated $817 Million In Tax Revenue

/0 Comments/in , /by

According to a report by the nonpartisan California Legislative Analyst’s Office, California collected about $817 million in adult-use marijuana tax revenue during the 2020-2021 fiscal year, state officials estimated on Monday. That’s 55% more cannabis earnings for state coffers than was generated in the prior fiscal year.  Furthermore, the combined excise and cultivation tax revenue for […]

Congress Considering Increased Reporting Requirements For Cryptocurrency Transactions

/0 Comments/in , /by

Cryptocurrency / Bitcoin – Is this the 21st century answer to hiding assets in Swiss bank accounts?  The IRS thinks this is the case which is why the IRS has stepped up its investigation efforts to uncover non-compliant taxpayers just like the IRS successfully did in its investigation of the Swiss banks leading Congress to enact […]

Can Cannabis Help Lower CNS Inflammation in People With HIV?

/0 Comments/in , /by

According to a report published on July 15, 2021 in the Journal of the International Neuropsychological Society, in a study of 263 adults who have neurocognitive impairment in people with HIV (PWH) those who consumed cannabis on a daily basis lower levels of pro-inflammatory chemokines implicated in HIV pathogenesis and these chemokines were linked to the cognitive […]

Governor Newsom Signs Cannabis Trailer Bill Creating The Department Of Cannabis Control

/0 Comments/in , /by

On May 14, 2021 the California Bureau of Cannabis Control issued a press release announcing Governor Newsom’s “California Comeback Plan” which proposes $100 million in grant funding for local governments to complete environmental studies, license reviews, and mitigate environmental impacts. Additionally, the Governor proposed a consolidation of California’s the three California State Cannabis Agencies – […]

How The American Families Plan Is Helping IRS Step Up Investigations Of Taxpayers Involved In Cryptocurrency

/0 Comments/in , /by

How The American Families Plan Is Helping IRS Step Up Investigations Of Taxpayers Involved In Cryptocurrency Cryptocurrency / Bitcoin – Is this the 21st century answer to hiding assets in Swiss bank accounts?  The IRS thinks this is the case which is why the IRS has stepped up its investigation efforts to uncover non-compliant taxpayers just […]

Max The Vax But Don’t Forget The Tax

/0 Comments/in , /by

Max The Vax But Don’t Forget The Tax States offering prizes to incentivize people to get the COVID-19 vaccine. In California – get vaccinated, get rewarded. Are you already vaccinated or about to be? Great! You’ll have a chance at winning $50,000 or a grand prize of $1.5 million!  Not yet vaccinated against COVID-19? Listen […]

If You Can’t Beat Them Then Join Them! Legal Cannabis States Have Generated Nearly $8 Billion In Tax Revenue Since Recreational Sales Launched

/0 Comments/in , /by

States that have legalized marijuana for adult use have collectively generated nearly $8 billion in tax revenue from cannabis since legal sales first began in 2014, according to a new report from the Marijuana Policy Project. The authors of the report examined the tax structure and revenue streams of all 18 states that have legalized […]