Abstract

http://ssrn.com/abstract=1086692
 
 

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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

Abstract:     
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 It then recommends that the statute should be repealed entirely.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: H25

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Date posted: January 23, 2008  

Suggested Citation

Newman, Joel S., CHAMP: How the Tax Court Finessed a Bad Statute. Tax Notes, Vol. 116, No. 10, 2007; Wake Forest Univ. Legal Studies Paper No. 1086692. Available at SSRN: http://ssrn.com/abstract=1086692

Contact Information

Joel S. Newman (Contact Author)
Wake Forest University - School of Law ( email )
P.O. Box 7206
Winston-Salem, NC 27109
United States
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