Got my NC Dept of Revenue bill for that Weed.

[Floppin]

Yeah, it was a tough decision. Ultimately decided to swallow my pride in favor of being able to guarantee that I could continue to provide for my family.

[Lushy]

They'll give you the option to forfeit your tax return for a number of years, but that's for suckas!

[blackcatgrowl]

Why the hell would you post this on a message board?

[Floppin]

What's the problem with me posting it?

[Darth Biscuit]

Its not a revenue tax though. Its an excise tax.

If the package came from out of state then he would be responsible for having the tax stamps for the product before he took possession so that he could then affix the stamps to the product. Then its up to him to recover the cost any way he can(increasing the price)

Its the same thing with smokes and booze. That stamp/sticker is bought by the manufacturer/in state distributor and the cost of the stamp is passed on to the consumer.

Well, I tried... :confused:

[boo7382]

Holy poo! $1300 of weed?!!?!

that's a lotta hooch.

[Floppin]

I think you misread that. That's not a money figure, that's grams.

[boo7382]

I think you misread that. That's not a money figure, that's grams.

:willy_nilly::svengo:

[Floppin]

At 50 an eighth for the weed and 20 a gram for the hash there's over 20,450 bucks worth of product there

[Murph]

What is their explanation for the penalty?

I can't wait to hear this one.

edit: Looked it up. Probably becuase you never bought the excise stamps within the first two days you came into possession of the stuff. I love the NCDR web page FAQ about this.

So is your LLC going to deduct the excise tax as a business expense on your 2011 return?

(I'm not advising you to, nor I'm I advising against it)

[Floppin]

I don't really know. It just gives a statute number as explanation. It's actually three different penalties. A 5% failure to file, a 10% failure to pay, and a 25% large tax deficiency penalty. All authorized under G.S. 105-236.

I'm going to have to look it up.

[sharkkiller]

I don't really know. It just gives a statute number as explanation. It's actually three different penalties. A 5% failure to file, a 10% failure to pay, and a 25% large tax deficiency penalty. All authorized under G.S. 105-236.

I'm going to have to look it up.

So they are penalizing you for failing to fill out a tax form on illegal drugs?

And why would the taxes be your responsibility? Shouldn't the person that has the drugs pay the taxes? In this case, the police? This just makes no sense to me.

[Floppin]

What is their explanation for the penalty?

I can't wait to hear this one.

edit: Looked it up. Probably becuase you never bought the excise stamps within the first two days you came into possession of the stuff. I love the NCDR web page FAQ about this.

So is your LLC going to deduct the excise tax as a business expense on your 2011 return?

(I'm not advising you to, nor I'm I advising against it)

They seized it about 2 minutes after it had arrived. It was in opened and I had written return to sender on it. Hardly two days later.

[Doyle]

The way I see it, if I pay taxes on it they should give it back to me. Otherwise the revenue tax makes no sense, you know, since there is no revenue to be made by me.

"They should give it back to me" This confirms my theroy that you are guilty. I don't care dude I smoke weed but I knew your whole "they sent it to the wrong house" was BS. I've had weed mailed to me but I was smart enough to make it only a couple of joints worth.