Forbes.com: “Members of Congress on Thursday tried to throw the cannabis industry a legislative lifeline on taxes. The Small Business Tax Equity Act of 2017, introduced in the House by Rep. Carlos Curbelo (R-FL) and Rep. Earl Blumenauer (D-OR) and in the Senate by Sen. Ron Wyden (D-OR), Sen. Rand Paul (R-KY), and Sen. Michael Bennet (D-CO) today, would allow state-legal cannabis businesses to take normal business deductions like any other legal business. Known as 280E, the tax code provision prevents cannabis businesses from taking normal business deductions related to sales.
Members Of Congress Seek To Help Cannabis Businesses With Tax Reforms
By On the Net|2017-04-01T09:05:47-07:00April 1st, 2017|Stories & Articles, Tax Issues|Comments Off on Members Of Congress Seek To Help Cannabis Businesses With Tax Reforms
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Richard Keyt, an Arizona business law attorney who is the creator of this Arizona medical marijuana law website. Connect with Richard at 480-664-7478 or on Google+