Medical Marijuana Dispensaries May Soon Have to Pay Hefty Taxes - FOX44 - Burlington / Plattsburgh News, Weather & Sports

Medical Marijuana Dispensaries May Soon Have to Pay Hefty Taxes

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WASHINGTON -

It looks like medical marijuana retailers may soon have to pay some hefty taxes.

The IRS ruled dispensaries cannot deduct standard operating expenses like rent and payroll, which could mean an effective Federal Income Tax Rate as high as 75%.

Officials are enforcing a 1982 law aimed at illegal drug dealers.

Agency officials say Congress should change that law if it doesn't want medical marijuana dealers to pay the price.

Medical marijuana is legal in 18 states and Washington, D.C.

Each state has its own set of rules about the sale and possession of it.

In Vermont, only 2 dispensaries have been licensed one in Burlington, Vt. and the other in Waterbury, Vt. Neither have been opened yet.

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