Jboys3
- 236
- 43
@Kendo,just wondering thoughts on Fed tax collection.tho I wish the thought would go away I don*t think it will, trying to be legit I guess,forgive me for thinking about taxes.Peace.
Be prepared for a 30% tax rate on ALL of your SALES, not your profit. You will be unable to deduct any expenses from your sales like other businesses to get your profit. Since the Feds do not legally recognize cannabis they will not allow you to deduct your expenses. Technically this is way higher than a 30% rate and this is why most retailers and growers in Washington may not make a profit this year.