Pot Co. Harborside Gets $11M Bill After Tax Code Fight

Law360 (October 22, 2019, 12:52 PM EDT) -- A U.S. Tax Court judge has said California cannabis company Harborside Inc. owes $11 million in taxes after its battle with the Internal Revenue Service over whether it is subject to a tax code clause targeting drug dealers.

The final bill comes after Harborside was audited for tax years 2007 through 2012, years when only medical marijuana was legal in California. U.S. Tax Court Judge Mark Holmes issued his decision on the amount of taxes Harborside owes on Thursday, according to court records. In total, Harborside owes just over $11 million in taxes and no penalties.

The company, which owns an...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!