Stories you shouldn’t miss:
1. In what could be a death blow to the medical marijuana industry, the IRS has ruled that Harborside Health Center in Oakland, the largest pot club on the West Coast, cannot write off routine business expenses and thus owes $2 million in back taxes, the Bay Citizen reports. Harborside says that if the IRS ruling stands, it will have to close its doors. Medical cannabis experts also say that the IRS’s decision could spell the end for pot dispensaries. The IRS concluded that Harborside can’t make routine deductions like other businesses because it’s allegedly engaging in “the trafficking of controlled substances.” Harborside plans to appeal the ruling.
