Business Structure of Marijuana Business

Harborside Health Center, one of the nation’s biggest cannabis dispensaries located in Oakland, CA, is challenging the IRS’s efforts to collect a $2.4 million tax bill resulting from an audit of its returns from 2008 and 2009. The IRS claims that Harborside was not allowed to take business deductions under Section 280E of the Internal …

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Supreme Court Upholds Patent Office Authority

A challenge to the Patent Office’s authority was denied by the Supreme Court earlier this year. This case was one of two significant rulings by the Supreme Court that will affect intellectual property rights well into the future. The issue before the court in this case was how far the Patent Office can go in …

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Challenging The Digital Millennium Copyright Act

Late last month, the Electronic Frontier Foundation filed a lawsuit challenging Section 1201 of the Digital Millennium Copyright Act of 1988, which makes it illegal to break an “access control” or manipulating copyrighted works. This law was originally passed in order to curb the piracy of intellectual property.

In this action, The Electronic Frontier Foundation …

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Quick Guide to Section 338(h)(10) and Section 336(e) Elections

From a nontax standpoint, the purchaser of a corporate business often prefers buying the target corporation’s stock rather than its assets. A stock purchase is usually easier to accomplish than an asset purchase and is often necessary to avoid interruption of contractual and other relationships of the target corporation. For federal income tax purposes, however, …

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