Business
Originally published on Tue April 2, 2013 9:56 pm
An obscure tax code provision crafted for drug dealers is giving state-licensed medical marijuana dispensaries a headache.
In Colorado, federal income tax rates for dispensaries can soar as high as 70 percent because of a tax code section that does not allow businesses to claim certain deductions.
The section is known as 280E, and it was originally written for illegal drug traffickers. But today it's a thorn in the side of licensed dispensary owners like Erica Freeman.
Read more