As we’ve discussed in the past, even in states where recreational marijuana is now legal, businesses are still figuring out how the heck to handle their financial obligations like banking and paying taxes, as the drug remains a Schedule I controlled substance in the eyes of the federal government. Oregon has now figured out a safe way for weed dealers to pay the taxes they owe the state, and the process sounds like something out of a movie. [More]
tax revenue
New York Seeking $180M In Lawsuit Accusing UPS Of Shipping Untaxed Cigarettes
By 2.18.15
A new lawsuit filed by the state of New York and New York City is accusing United Parcel Service of shipping more than 136 million contrabands cigarettes across the state in the last five years. Those smokes are worth a lot of tax dollars — about $5 million for NYC and $30 million for the state — and as such, the lawsuit is seeking $180 million in damages and penalties. [More]
