Legal Marijuana just can't catch a break From Washington

The marijuana industry has taken a couple of hits in Washington this month.

First, an amendment that would have stripped a part of the tax code that places extra financial burden on cannabis businesses was pulled at the last minute from the GOP tax plan approved by the U.S. Senate.

Also, Attorney General Jeff Sessions again made remarks that seemed to threaten a potential federal crackdown on the legal marijuana business any day now, maybe even by the time you read this. The events underscore the fact that even as the marijuana industry continues to grow by leaps and bounds, it still faces challenges.

No tax relief, yet.

Marijuana industry entrepreneurs had hoped the sweeping tax changes voted on by Congress would provide the perfect opportunity to end the dreaded provision 280E in the federal tax code.

The provision blocks marijuana businesses from deducting normal business expenses on tax returns. Such deductions...

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