“Even as more states embrace legal marijuana, shops say they are being forced to pay crippling federal income taxes because of a decades-old law. The tax rule, an obscure provision referred to as 280E, catches many marijuana entrepreneurs by surprise, often in the form of an audit notice from the I.R.S. [..] This year, Allgreens, a marijuana shop in Colorado, successfully challenged an I.R.S. policy that imposed about $30,000 in penalties for paying its payroll taxes in cash — common in an industry in which businesses rely on armed guards and cash-stuffed safes because they cannot get bank accounts.”
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