Currently the IRS does not allow for standard business deductions in the 2 states which have legal marijuana business. This is a problem as the new legal business of the marijuana trade is creating thousands of jobs in these states, yet has a higher tax liability than any other industry. If the IRS will accept money from this industry, they should also allow for deductions fairly, as if it were any other business. Stimulate our economy by embracing Job Creation. Many more states are going this way and soon it will become a bigger problem. It is hard enough to be a cash only business, without banking; let alone unfairly taxed by the state, and the federal government.
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