Bill
Bill > S1828
MA S1828
Rescinding the discriminatory effect of IRC 280E on businesses legally selling marijuana
summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
For legislation to rescind the discriminatory effect of IRC 280E on businesses legally selling marijuana. Revenue.
AI Summary
This bill aims to rescind the discriminatory effect of Internal Revenue Code (IRC) Section 280E on businesses legally selling marijuana in Massachusetts. Specifically, it allows businesses operating marijuana establishments or medical marijuana treatment centers, as permitted under state law, to deduct expenses that would otherwise be disallowed under IRC 280E. The bill amends the state's personal income tax and corporate excise tax laws to enable these deductions, effective for tax years beginning on or after January 1, 2021.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Accompanied H3045 (on 04/07/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/S1828 |
| Bill | https://malegislature.gov/Bills/192/S1828.pdf |
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