Dispensary wants me to fill out a 1099 form?

[JayTrinity]

I guess I put medical cannabis on my Tax forums.
But being my tax info is collected by a dispensary that put "Cannabis dispensary" on theirs.

From what im told im a super minority, no one in my area wants to be 100% legit.

I want to be 100% legit.

I hope they don't punish the folks that want to follow the law and pay tax.

 

[TruthOrLie]

100% legit = people can screw you if they are unsatisfied by your business

 

[bobblehead]

100% legit = people can screw you if they are unsatisfied by your business

yeah, and that guy you fronted a lb to, he never left town and fucked you either...

 

[PennysPlace420]

1099 or not?

1099 or not?

The non profit status wouldn't apply to you, only the dispensary.
The state of Michigan is too new to legalization.
Colorado, after 10 years is changing the laws! And it Sucks!! Dispensaries have to grow 70% of their own and the other 30% can be bought from other dispensaries. To top it all off...from Seed to Sale, everything will be on camera for the State! If that happens in Michigan you would be out a job and exposed to the state! Or even worse... the Feds, if your supplying too much. The dispensaries are losing money tax wise selling your stuff. That's their problem!
If it's all good for you, don't change anything.

 

[PennysPlace420]

1099 cont.

1099 cont.

Let me add, It is not considered agriculture in this state. So you don't get all the tax breaks of the farm act. Plus...if the State really considered it medicine why are they taxing it? Prescriptions don't get taxed!!! It costs over $15,000 for the permit to open dispensary.
The state here is Taxing MMJ to Death here!

 

[Hydrosun]

in fact the whole mmj industry is centered on that BS

"False sense of security"

it just does not exist

I agree with your stance on this information sharing and liability issue.

However isn't the "False sense of security" with the immoral prohibitionists?

This community is an example of the power of this plant and this truth. They will never be able to cage the farmer or the plant, because it does so much good. They may get some of us or even a large percentage of us but they will never overcome truth and nature.

The scare tactics of the government are designed to keep us from overgrowing. Even I submit to them in some ways (being way under 99 plants at all times); but each thread we start and post we answer helps another plant grow.

They don't really want your money they are happy with controlling your ambition and constraining you with diversions such as 1099's and rules they made up so that you'll break many of them no matter which path you choose.

Choose your own path live free in your mind and never give sanction to a law or rule that violates your personal moral compass.

 

[bobblehead]

The non profit status wouldn't apply to you, only the dispensary.
The state of Michigan is too new to legalization.
Colorado, after 10 years is changing the laws! And it Sucks!! Dispensaries have to grow 70% of their own and the other 30% can be bought from other dispensaries. To top it all off...from Seed to Sale, everything will be on camera for the State! If that happens in Michigan you would be out a job and exposed to the state! Or even worse... the Feds, if your supplying too much. The dispensaries are losing money tax wise selling your stuff. That's their problem!
If it's all good for you, don't change anything.

Non-profit most certainly does apply to the caregiver. I am not for profit, I am compensated for my time/materials... Additionally, I just found out from Moonshine, that in CO, you don't have to have cameras, you can have a walk-through inspection every 6 weeks... How would I be out of a job if there were cameras put in my grow? IDK if you've looked at my threads, but my numbers all always in order. They're gonna change the laws and give all the experienced caregivers the boot?

Get the facts straight.

 

[zenoonez]

How does someone justify making 3000 a # and selling 100#s a year and claiming to be non-profit?

 

[bobblehead]

DO NOT DO THE 1099

paying taxes will not stop the FEDS

If you believe, because you pay taxes on a Sched 1 listed Narcotic your safe...
you are one stupid ass stoner
same with your Lawyer
they are not worth the $$$ you gave them
they are greedy liars making you have a false sense of security

in fact the whole mmj industry is centered on that BS

"False sense of security"

it just does not exist
pay taxes or not
if you are choosen, you will be busted
just stay out of the Light!!!!

DO NOT DO THE 1099

that's def a very bright light

Bayer produces schedule 1 narcotics, and they pay taxes... They are very secure in what they're doing.

Not to be a dick, but are you in a med state? b/c it's pretty legit when a cop pulls you over, smells marijuana, but you have a medical card so he lets you go about your business...

 

[Hydrosun]

How does someone justify making 3000 a # and selling 100#s a year and claiming to be non-profit?

Well we should ask the red cross or united way. I seem to remember $500K plus salaries for some.

The way the circus works is what ever arbitrary answer the government wants.

The moral question about Non Profits and taxation may be better explored in use of proceeds as opposed to size or scale.

One may run an immoral scam for almost ZERO net gain all the while claiming to be a non-profit (bad or failed dispensaries) or one could run a multi BILLION dollar non-profit foundation (Bill and Melinda Gates Foundation) morally and ethically.

The sad part is the farce of who gets to judge.

 

[zenoonez]

Well we should ask the red cross or united way. I seem to remember $500K plus salaries for some.

The way the circus works is what ever arbitrary answer the government wants.

The moral question about Non Profits and taxation may be better explored in use of proceeds as opposed to size or scale.

One may run an immoral scam for almost ZERO net gain all the while claiming to be a non-profit (bad or failed dispensaries) or one could run a multi BILLION dollar non-profit foundation (Bill and Melinda Gates Foundation) morally and ethically.

The sad part is the farce of who gets to judge.

Point well taken. I am just trying to find out how to play this, I would like to move to a med state sometime in the next two years but I don't want to make a ton of money and not be able to use it.

 

[Hydrosun]

Point well taken. I am just trying to find out how to play this, I would like to move to a med state sometime in the next two years but I don't want to make a ton of money and not be able to use it.

I for one hope you get there sooner and make even more than a ton or three. If you are fortunate to recoup your invested capital and ongoing expenses you'll be better off than many. Using excess money isn't much of a problem; investing it is the trickier question. I hope you have a large honest and loving family, and friends who can help you invest.

 

[TruthOrLie]

yeah, and that guy you fronted a lb to, he never left town and fucked you either...

WTF? Who fronted a guy a lb? Not me.

Dunno where you got this confused.

Doing good business does not have to = doing legit business.

You can be a thief, which is not legit, but still be a good businessman about selling your stolen goods.

Of course you don't just "give away" a diamond necklace you stole for someone to "pay you back" later.

Anyway, hope that clears that up.

Once again, I'm still confused who fronted who a lb and then left town.

 

[canaguy27]

YOU ARE NOT AN INDEPENDENT CONTRACTOR.

You are a wholesaling vendor selling to a retail outfit. Think of it this way, do you think Nike gets 1099ed by Walmart for selling shoes? No.

The dispenso is trying to pass the buck onto you. So that 3k item actually turns into a 2.3k item when tax time rolls around.

Hire a real accountant and ask about costs of goods sold. Don't just accept what people tell you; find out for yourself.

 

[Yes4Prop215]

i know lots of people who have fillled out the 1099s and have been selling to the clubs for years and no raids have happened, but its still something i dont feel comfortable doing. luckily i have connections at a few clubs where i can vend under the table and not have to claim any taxes....

Point well taken. I am just trying to find out how to play this, I would like to move to a med state sometime in the next two years but I don't want to make a ton of money and not be able to use it.

you will find that theres plenty of ways to use that cash....especially with growing you are always re-investing in your grow at least the smart ones do...hydro shops always take cash.

 

[kmk420kali]

YOU ARE NOT AN INDEPENDENT CONTRACTOR.

You are a wholesaling vendor selling to a retail outfit. Think of it this way, do you think Nike gets 1099ed by Walmart for selling shoes? No.

The dispenso is trying to pass the buck onto you. So that 3k item actually turns into a 2.3k item when tax time rolls around.

Hire a real accountant and ask about costs of goods sold. Don't just accept what people tell you; find out for yourself.

1099 is not only for Contractors-- It is also a way for them to account where their money goes--
(That being said, I personally would not sell to anyone requiring one--)

Variants for Form 1099
As of 2008[update], several versions of Form 1099 are used, depending on the nature of the income transaction:

• 1099-A: acquisition or Abandonment of Secured Property
• 1099-B: Proceeds from Broker and Barter Exchange Transactions
• 1099-C: Cancellation of Debt
• 1099-CAP: Changes in Corporate Control and Capital Structure
• 1099-DIV: Dividends and Distributions
• 1099-G: Government Payments
• 1099-H: Health Insurance Advance Payments
• 1099-INT: Interest Income
• 1099-LTC: Long Term Care Benefits
• 1099-MISC: Miscellaneous Income
• 1099-OID: Original Issue Discount
• 1099-PATR: Taxable Distributions Received From Cooperatives
• 1099-Q: Payment from Qualified Education Programs
• 1099-R: Distributions from Pensions, Annuities, Retirement Plans, IRAs, or Insurance Contracts
• 1099-S: Proceeds from Real Estate Transactions
• 1099-SA: Distributions From an HSA, Archer MSA, or Medicare Advantage MSA
• 1042-S: Foreign Person's U.S. Source Income
• SSA-1099: Social Security Benefit Statement
• SSA-1042S: Social Security Benefit Statement to Nonresident Aliens
• RRB-1099: Payments by the Railroad Retirement Board
• RRB-1099R: Pension and Annuity Income by the Railroad Retirement Board
• RRB-1042S: Payments by the Railroad Retirement Board to Nonresident Aliens
• W-2G: Certain Gambling Winnings

 

[designer]

It sounds like you just have to prove you are not making a profit. If you want mmj to be legal and legit you have to play by all the rules, not just those that appeal to you.

 

[PoopyTeaBags]

I really dont think alot of people grasp what a non profit actually is.... Blue cross and blue shield of michigan is a medical insurance company... also a non profit.... you think they dont make money???

 

[Rednick]

help Normal & grease the politicians to get MMJ. legal federally!

Fuck NORML...A bunch of fucking theives is what they are. What have they done? Nothing good. One guy (obviously from MH NORML) keeps posting their shows on The Farm...It is fucking retarded if you actually listen to it.


Grease the politicians...Now you are thinking straight.

Perhaps it is time to UNIONIZE in this state????

I am very anti-union, but perhaps it is time to give the lowley caregiver a voice. I just don't know how you keep a union from eventually becoming a self-serving entity like Government Motors that forgot it's purpose and feeds off the fat of the land.

 

[Rednick]

I really dont think alot of people grasp what a non profit actually is.... Blue cross and blue shield of michigan is a medical insurance company... also a non profit.... you think they dont make money???

No they don't...
The tax code is too complicated and public schools failed most of them.