The IRS has released answers to frequently asked questions about marijuana businesses. For example, one question asks if a taxpayer operating a marijuana business in compliance with his or her state’s laws has the same income and employment tax filing obligations as other businesses. The answer is “yes” even though the federal government considers the business an illegal activity. “Income from any source is taxable,” the IRS explains. Federal courts have consistently upheld IRS determinations that compliant marijuana businesses have taxable income. Similarly, marijuana businesses have no exemption from employment tax obligations. To read the Q&As: https://bit.ly/3l8x9HE
