Pot Growers Exempt Application Goes Up In Smoke
Your activities violate this general principle. Your primary activity, facilitating and organizing transactions between members who cultivate and possess cannabis, is illegal under Federal law. You enter into agreements that give you title to the cannabis grown by your members. Once you obtain title, you process, sell, and otherwise dispose of it as you decide. Federal law does not recognize any health benefits of cannabis and classifies it as a controlled substance.
IRS Kills Tax Exemption Of Foundation Pushing Eternal Life
The IRS also raised concerns about the independence of the foundation’s grant-making. The Foundation had no written grant application form and no published criteria for grant selection, the IRS complained. Moreover, Saul Kent, the founder of the Foundation and major shareholder of the Buyer’s Club, serves on the boards of companies that have received annual grants from the Foundation. As this old Los Angeles Times article reports, Kent is a longtime advocate of cryonics who received national attention in the late 1980s when he had his late mother’s head surgically removed for freezing.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.