News from around the industry highlighting firm achivements and current events

TAX COURT DENIES DEDUCTIONS FOR MARIJUANA DISPENSARY

December 10, 2018

While states continue to push toward legalization, marijuana remains classified as a controlled substance under federal law. Federal law still largely views such businesses as trafficking in controlled substances and the IRS denies deductions for marijuana businesses. Tax deductions help businesses reduce their income tax and, without those deductions, marijuana businesses pay more in tax. On November 29, 2018, the Tax Court decided Patients Mutual Assistance Collective Corporation v. Commissioner and held that, despite Patients Mutual Assistance Collective Corp. (d.b.a….

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No Adjustment For The 2019 Washington Estate Tax Exemption?

December 10, 2018

The Washington Department of Revenue has informally stated it does not intend to raise the Washington estate tax exemption for 2019.   The exemption was indexed for inflation starting in 2014 using the Seattle-Tacoma-Bremerton metropolitan area. The procedure the Department of Revenue undertakes to adjust the Estate Tax Exemption can be found here. In 2018 the federal government changed the consumer price index areas such that the Seattle-Tacoma-Bremerton metropolitan area no longer exists, and is the Seattle-Tacoma-Bellevue metropolitan area. The…

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Jeremy Zener Made Partner

December 6, 2018

Paine Hamblen is delighted to announce the appointment of Jeremy Zener as Partner. Jeremy Zener’s practice primarily focuses on insurance defense matters, including auto/trucking accidents, personal injury, premises liability, products liability, breach of contract, and commercial and residential construction defect cases. He also has substantial experience defending insurance carriers and/or their insureds. In addition, he has represented numerous utility companies in electrical contact cases, wildland and structural fires, personal injury and property damage cases, and other related matters throughout the…

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