Tax Court Again Denies Deductions Of State-Legal Marijuana Facility
For the past decade I’ve lived in Colorado, home to 14,000 foot summits, the 2016 Super Bowl champions, and lots and lots of legal weed. Now, we can debate whether legalized medicinal and recreational marijuana is healthy for an individual, profitable for a government, or morally palatable to a society, but what isnotup for debate is this: the widespread availability of legal weed has given rise to a marked increase in amusing anecdotes.
Case in point: last week my friend and I went out for what was intended to be a moderate mountain bike ride. As tends to happen, however, two hours quickly turned to three, and then four, and before we knew it, we had been pedaling for nearly five hours. This was problematic for two reasons: first, we had only brought enough food for half that duration, and second, my buddy was in danger of missing the start of his son’s baseball game.
At long last, we returned to the trailhead, where my famished friend, before even changing out of his bib shorts or mounting his bike upon its rack, began tearing through his car for any morsel of food. He quickly grew frustrated, because on this day he had borrowed his wife’s car, so his usual supply of energy bars was nowhere to be found.
Finally, he opened the center console, and pulled out a sandwich bag filled with chocolate squares. One…two…three were popped into his mouth and swallowed, and as he went back for round two, I saw his face change. For it was at that moment that he realized that these were not ordinary chocolates, but rather his wife’s supply of “emergency” edibles in the event she felt overly stressed at work.
Needless to say, that was the most fascinating Little League game heeversat through.
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Authored by Tony Nitti, Withum Partner and writer for Forbes.com.
