Next week Americans for Tax Reform – founded and headed by ultraconservative Grover Norquist – will hold a joint press conference with
the National Cannabis Association to call for a change in federal tax laws to allow cannabis businesses to take standard tax reductions, in states where they’re legal.
In speaking for the Obama Administration, Deputy Attorney General James Cole stated yesterday at a Senate Judiciary Committee hearing that the feds have no official possession on a possible change in the federal tax code; the administration did, however, recently announce that they’re working with banking regulators in order to allow cannabis businesses to legally bank.