Attorneys for Harborside last week filed an appeal to the fall court decision that ordered the company to pay $11M in tax deficiencies. The appeal’s outcome could have broad ramifications for the dreaded U.S. tax code Section 280E, which can drive government-approved businesses tax rate to 70%.
Bloomberg Tax
- The appeal comes after the Ninth District Court ruled in October that Harborside must make up for deficiencies in fiscal years 2007 through 2012. The company took deductions that ordinary businesses selling federally-prohibited drugs take without a second thought.
Quick Hit
- The Coachella Valley has 40 dispensaries. Only one of them, Harborside Desert Hot Springs, has a drive-thru. Actually, it’s the only state-sanctioned drive-thru anywhere. Here’s how a loophole helped make that happen.
San Bernardino Sun
