By:
Patrick Temple-West
08/16/12 6:38 PM
The U.S. Tax Court has ruled against a San Francisco medical marijuana seller, snuffing out his business expense deductions, in a decision highlighting the industry’s legal limbo.
The court ruled two weeks ago, in only its second decision on medical marijuana, that Martin Olive, sole proprietor of the Vapor Room Herbal Center, could not claim business expense tax deductions.
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Two San Francisco medical cannabis dispensaries praised as models for their industry will close under federal Justice Department pressure at the end of business today.
HopeNet, on Ninth Street in South of Market, and the Vapor Room, on Haight Street in the Lower Haight, will be the seventh and eighth San Francisco dispensaries to close under federal pressure since a coordinated statewide crackdown began last fall.
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URL: http://www.sfexaminer.com/topics/martin-olive
