Partner Marc J. Ross Interviewed by International Business Times on Colorado’s Unique Marijuana Tax Problem
February 10, 2015 – The International Business Times recently interviewed Marc J. Ross, founding partner of Sichenzia Ross Friedman Ference LLP, on the unique tax situation that Colorado now faces after earning more than $50 million in revenue from marijuana sales last year. Due to a 1992 constitutional amendment, the state has a limit on how much tax money the state can take in.
Read the full article here and see Mr. Ross’ quotes below:
“This will drive the point home how this new, burgeoning weed industry can be helpful to society, as it can be a substantial source of revenue for the state.”
He expects that lawmakers won’t end up refunding the money, and that the industry will keep booming.
I believe business owners, who are making money running these businesses, are happy to pay taxes, and the public, which is getting public benefits from the tax revenues and approved legalized marijuana, are happy to have those taxes,” said Marc Ross. “In sum, it becomes a ‘win, win, win’ situation for business owners, the public and the state.”
Earlier this year, Mr. Ross began teaching one of the first law classes on marijuana business law titled “Business and Law of Marijuana” at the Hofstra University School of Law. Learn more about his course here
For additional information, please contact Marc J. Ross directly: