It turns out that my friend and former teacher Bill Turnier of UNC-CH Law School (whose Family Wealth Management course I helped him teach) looked at marijuana and taxes a while back. He wrote “The Pink Panther Meets the Grim Reaper: The Estate Taxation of the Fruits of Crime,” in 72 N.C.L. Rev. 163. The article deals with the valuation of contraband.
Every day I learn something new. Or remember something I used to know.
The Center for New Revenue 