In Oregon, Medical Marijuana Costs Can Be Tax Deductable
Posted by Little Buds | July 09 2012 | 2505 views | Comments ↓
In Oregon, MMJ Patients Can Deduct MMJ Costs From Their Income
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- Gene Evans
According to the Associated Press, when tax time comes around this year, some medical marijuana patients in Oregon can actually deduct their medical marijuana prescription costs off of their taxable income. This law applies to the elderly and permanently disabled state residents who qualify for Social Security Disability Insurance. Both groups are allowed to deduct all of their medical expenses, MMJ prescription costs included.
Amazingly, these deductions do not only include the cost of buying medical marijuana from a third party grower, but also include "the fee for obtaining a state-issued medical marijuana card, and the cost of growing marijuana," the AP notes. Also in Oregon, those who apply for grow sites can get a reduced fee if they receive food stamps.
"Medical marijuana gets treated just like any other prescription drug," said Gene Evans, the spokesman for the Oregon Department of Human Services.
This policy however, is proving to be complicated, as it does not go along with federal policy. The federal government is responsible for administering food stamps and they do not permit this deduction. The U.S. Department of Agriculture states that, “No state may deduct the cost of any substance considered illegal under federal law, including medical marijuana… Although there may be state or local laws that permit the cultivation, prescription, and sale of marijuana for medicinal purposes, such activity is not permitted under federal law,"
The Oregonian newspaper, which recently reported this story, claims that after their article was published, a stir prompted state officials to plan discussions with federal food stamp administrators concerning the law.
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Thursday, 05 July 2012
Photography by docent
Article by Little Buds, on Jul. 9th 2012