Tag: Small Business Tax Equity Act

Federal Bills to Amend IRS Code to Allow Tax Deductions by Cannabis Businesses Announced

Today, Representative Earl Blumenauer (D-OR-03) and Senator Ron Wyden (D-OR) announced plans to introduce bicameral legislation next week that would reconcile state cannabis laws and federal tax law. The Small Business Tax Equity Act, which was introduced last Congress by Congressman Blumenauer, would create an exception to Internal Revenue Code Section 280E to allow cannabis …

Continue reading