IRS walks back cannabis tax deduction comment (Newsletter: February 15, 2022) – Marijuana Moment

IRS walks back cannabis tax deduction comment (Newsletter: February 15, 2022) – Marijuana Moment

MD legalization process gets underway; NY marijuana licensing bill; Sha’Carri Richardson calls out sports double standard

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/ TOP THINGS TO KNOW

Internal Revenue Service National Taxpayer Advocate Erin Collins suggested in a C-SPAN interview that medical cannabis purchases might be tax deductible—but when contacted by Marijuana Moment she clarified that that’s not actually the case.

The Maryland House Judiciary Committee took the first step toward putting a marijuana legalization referendum on the November ballot by holding a hearing on two companion bills sponsored by the panel’s chairman.

New York’s Assembly majority leader and other lawmakers filed legislation that would grant temporary marijuana business licenses to hemp growers and processors to help the state prepare a timely launch of the adult-use market. Participating businesses would need to meet certain equity, labor and sustainability requirements.

U.S. runner Sha’Carri Richardson, who was suspended from the Olympics over marijuana, is suggesting there may be a racist double standard after a Russian skater who tested positive for a performance enhancing drug is being allowed to compete.

Washington State lawmakers are being accused of reneging on promises to back legislation to expand marijuana business licensing to address equity concerns. Some existing cannabis operators  have opposed the proposal.

Winery president Doug Frost—who says he is one of only three people in the world to be certified as both a master sommelier and a master of wine—writes …….

Source: https://www.marijuanamoment.net/irs-walks-back-cannabis-tax-deduction-comment-newsletter-february-15-2022/