Month: May 2014

Wait, politicians crossing party lines to stop the Feds from interfering with the States? That will never do!

GOP House Backs State Medical Marijuana Laws

WASHINGTON May 30, 2014 (AP)

Unethical for Lawyers to handle simple business transaction for Medical marijuana businesses?

“an attorney engaged by a marijuana practitioner to do the work that lawyers traditionally do for businesses necessarily puts herself at risk. Because all lawyers have an obligation not to knowingly assist criminal conduct – and because their clients’ conduct is by definition criminal – attorneys who do any legal work for MMJ clients face the possibility of both significant ethical and criminal consequences for their actions.”

 

Marijuana Lawyers: Outlaws or Crusaders? 

Sam Kamin – University of Denver Sturm College of Law

Eli Wald – University of Denver Sturm College of Law

August 17, 2012

While marijuana remains a prohibited substance under federal law – one whose manufacture, possession, or distribution is a serious felony – 17 states plus the District of Columbia have legalized the drug for certain medical uses. This tension between state and federal law creates confusion for all of those who work in the emerging medical marijuana (“MMJ”) industry. As marijuana moves from the shadows to the storefronts, it becomes a business. Businesses have employees, shareholders and leases; they must comply with state and local zoning ordinances and pay their taxes. In most businesses, proprietors turn to lawyers for help with these and other legal issues. Lawyers incorporate businesses, they write leases and employment agreements, they help navigate the labyrinth of regulatory compliance and ensure that taxes are being paid promptly and accurately.

 

 

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Is Donald Sterling a racist or just a savvy tax planner?

Could Forced Sale of the L.A. Clippers Save Donald Sterling $323 Million in Taxes as § 1033 Involuntary Conversion?

By Paul Caron, Pepperdine University School of Law

If Sterling had voluntarily sold the team for $1 billion, he would have owed about $200 million in federal income tax and another $123 million in California state income tax. But thanks to a tax law that applies only to forced sales or other “involuntary conversions,” Sterling’s profits may all be tax-free.

 

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