Tax liability for Montana caregivers.
- Thread starter tosh
- Start date
growclean
Grow Clean.... Go Fast!
If you are running a legitimate business, then of course you are subject to the laws of your state, including taxation. If you are not, I assume you are accustomed to braking many laws anyway. I would see a CPA. What kind of entity are you? (As in, did you file any paperwork, or have you just been selling Medical Cannabis and pocketing cash?
HillBillMt
Member
as of now (acording to our lawyer) mmj has not bin clasified in any catagory, this is not to say it is not a taxable item, tho it is important to remember that anything soley created from your effort or "the sweat of ones brow" is somthing you already own and is not taxxable as income anywhere in the US as long as it remains in the state of origin.. $ .02 
HHB
HHB
growclean
Grow Clean.... Go Fast!
as of now (acording to our lawyer) mmj has not bin clasified in any catagory, this is not to say it is not a taxable item, tho it is important to remember that anything soley created from your effort or "the sweat of ones brow" is somthing you already own and is not taxxable as income anywhere in the US as long as it remains in the state of origin.. $ .02
Ok, this is BAD advice. Please pay your taxes. First, everyone needs it. Should we pay as much as the rich assholes? No. Well, I am not a Republican or I would tell you that you should pay far far more percentage wise. But, we all need to pay, and those of us in this field more than others. Do not give anyone a reason to call you a criminal, plus it is another step towards legitimacy. The plants you grow are not a result of the "the sweat of ones brow"! They were clones or seeds from another at one time. Someone else $.02 can cost YOU ALOT more. Go visit a real CPA, one that won't jeopardize you and remember at least some of your taxes go to benefit you and yours.
superjoint
Active member
so how is montana for medical mjj? how are the local cops n stuff? i have land there i just dont know what to do with it yet ..
If a tree falls in the forest and no one is there to see it, did it really happen?
Olias
Member
Like everywhere else, the attitude of the cops and their political bosses varies from county-to-county and town-to-town. Stay under the 1oz per patient limit, the 6 plant per patient limit, and always carry your card and you should be fine. You can only be a caregiver for patients that specifically designate you as one for them. So if two patients designate you as their caregiver, you can maintain 12 plants and have 2 oz on hand available for them.
Alot of Montana cities have placed temporary moratoriums on new caregiver operations until they figure out how to handle them. The industry is just now starting to take off.
As for tax liability....take the advice and see a CPA. I'd suggest that you form an LLC or S-Corporation, as that will limit your personal liabilities. And as with any business, document everything.
Alot of Montana cities have placed temporary moratoriums on new caregiver operations until they figure out how to handle them. The industry is just now starting to take off.
As for tax liability....take the advice and see a CPA. I'd suggest that you form an LLC or S-Corporation, as that will limit your personal liabilities. And as with any business, document everything.
Good Advice here...The next few years will be telling as MT communities zone and control MMJ.
HM
time2shine
Member
ive been wondering about this also.. since federally its illegal still do you still have to pay federal tax's or just state?
