CHAMP: How the Tax Court Finessed a Bad Statute
Joel S. Newman
Wake Forest University - School of Law
Tax Notes, Vol. 116, No. 10, 2007
Wake Forest Univ. Legal Studies Paper No. 1086692
In Californians Helping to Alleviate Medical Problems, Inc. v. Commissioner (CHAMP), the Tax Court allowed business deductions for the expenses incurred in the sale of marijuana, despite the provisions of Internal Revenue Code Section 280E, which appears to disallow such deductions. This piece commends the Tax Court for finding a way around a bad statute. It then recommends that the statute should be repealed entirely.
Number of Pages in PDF File: 2
Keywords: taxation, marijuana, deductions
JEL Classification: H25Accepted Paper Series
Date posted: January 23, 2008
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