Published as Expert Analysis on Law360.com.
So, although states such as Colorado and California have served as helpful laboratories of democracy in our country’s experimentation with marijuana legalization, the results are in. We can do better; we must do more.
The tax code establishes unfair limitations on the ability of marijuana-related businesses to deduct routine expenses, which encourages accounting and tax fraud and makes it difficult for legitimate marijuana businesses to operate profitably and make accurate financial disclosures to potential investors and shareholders.
 https://www.washingtonpost.com/national/2018/01/10/study-legal-marijuana-could-generate- more-than-132-billion-in-federal-tax-revenue-and-1-million-jobs/.
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