help me understand

ohthatguy8 · Oct 17, 2013

Hello I know at one time patient to patient sales were legal, are they legal now? Also how do marijuana sales and taxes work?

mr roboto · Oct 20, 2013

there is a major gray area with all this stuff.

cannabeans · Oct 20, 2013

280E of the Internal Revenue Code
No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of trafficking in controlled substances (within the meaning of schedule I and II of the Controlled Substances Act) which is prohibited by Federal law or the law of any State in which such trade or business is conducted.

Couldnt get any clearer than that!

connoisseurde420 · Oct 20, 2013

feds trump everything. we all breaking the law here in the state's no matter what you're doing to be 'legal'

ohthatguy8 · Oct 20, 2013

Thanks for that post. That does make sense. I am trying to buy a house n didn't want to slap money in the bank then end up on tax fruad charges. Well theoretically if i had money!

connoisseurde420 · Oct 20, 2013

good luck there are ways. but putting grow money in the bank for a house might get u in a bind. you have to show financal history for the money when getting a loan, down payment, or paying cash

Prime C · Oct 20, 2013

When paying cash for a property you will need a cashiers check. When you make an offer you have to put money down (cashiers check) and have a copy of your cashier check for the amount you offer on said property. You still need a bank to get the check but no deposit is needed. Good luck with the house bro!;)

Motarebel · Oct 22, 2013

Patient to patient sales is not legal. You can sell your overage to dispensaries but you must claim this as income and pay the tax or be charged under federal law. All the state wants is it's tax dollars.

ohthatguy8 · Oct 22, 2013

Motarebel said:
Patient to patient sales is not legal. You can sell your overage to dispensaries but you must claim this as income and pay the tax or be charged under federal law. All the state wants is it's tax dollars.

Thanks Mota. I may try dropping some at a dispensary to show some extra income on top of my 9-5

oscar169 · Oct 24, 2013

Motarebel said:
Patient to patient sales is not legal. You can sell your overage to dispensaries but you must claim this as income and pay the tax or be charged under federal law. All the state wants is it's tax dollars.

You can not Legally sell your overages or any meds to anyone other then your 5 Registered Patients

Motarebel · Oct 26, 2013

oscar169 said:
You can not Legally sell your overages or any meds to anyone other then your 5 Registered Patients

I've been visiting an outdoor grower who has 72 plants in an enclosure. It's monitored by the state police every 2-3 weeks,the state implanted tags on each plant. Right before harvest they estimated each plant's weight for tax purposes. Most of his plants are pushing 2 lbs so a single plant would put him over his limit for a caretaker. He's worked with the state police for 2 years now and it's been smooth sailing. .........My bad,dispensaries pay for your time, the buds are free.;)

oscar169 · Oct 26, 2013

Motarebel said:
I've been visiting an outdoor grower who has 72 plants in an enclosure. It's monitored by the state police every 2-3 weeks,the state implanted tags on each plant. Right before harvest they estimated each plant's weight for tax purposes. Most of his plants are pushing 2 lbs so a single plant would put him over his limit for a caretaker. He's worked with the state police for 2 years now and it's been smooth sailing. .........My bad,dispensaries pay for your time, the buds are free.;)

This is happening in MI, I would be worried about them Pig fuckers coming back after the harvest .

Ohiofarmer · Oct 26, 2013

ohthatguy8 said:
Thanks for that post. That does make sense. I am trying to buy a house n didn't want to slap money in the bank then end up on tax fruad charges. Well theoretically if i had money!

that's why businesses where created; i wouldn't suggest putin cash in the bank for a house.....dependin on how nice the house is.

mgee · Oct 26, 2013

You can receive compensation for the meds you grow for your 5 registered patients by law right now. Until dispensary law passes we're stuck at a stand still. Chances are your local authorities will not prosecute a patient handing another patient some meds in exchange for money, and it would be very hard to prosecute that without some type of proof especially on a small scale - As long as the Buyer/Seller are within their legal limit I wouldn't worry much about trading/swapping/selling too much - It's not going to be an easy case to prove without video or audio surveillance.

wings123 · Oct 28, 2013

Motarebel said:
I've been visiting an outdoor grower who has 72 plants in an enclosure. It's monitored by the state police every 2-3 weeks,the state implanted tags on each plant. Right before harvest they estimated each plant's weight for tax purposes. Most of his plants are pushing 2 lbs so a single plant would put him over his limit for a caretaker. He's worked with the state police for 2 years now and it's been smooth sailing. .........My bad,dispensaries pay for your time, the buds are free.;)

Gotta be in the up?! I wonder what they charged per tag and inspection

help me understand

help me understand

ohthatguy8

mr roboto

cannabeans

connoisseurde420

ohthatguy8

connoisseurde420

Prime C

Defender of Dank

Motarebel

ohthatguy8

oscar169

Farming 🌱

Motarebel

oscar169

Farming 🌱

Ohiofarmer

mgee

wings123

help me understand

help me understand

ohthatguy8

mr roboto

cannabeans

connoisseurde420

ohthatguy8

connoisseurde420

Prime C

Defender of Dank

Motarebel

ohthatguy8

oscar169

Farming 🌱

Motarebel

oscar169

Farming 🌱

Ohiofarmer

mgee

wings123

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