MA H3079

Bill

Rescinding the discriminatory effect of IRC 280E on businesses legally selling marijuana

Introduced
03/29/2021

In Committee
03/29/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

Relative to the taxation of certain 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. Specifically, the bill proposes to amend the Massachusetts General Laws to allow businesses operating as marijuana establishments or medical marijuana treatment centers to deduct expenses that would otherwise be disallowed under IRC Section 280E. The bill provides that these deductions would be applicable for tax years beginning on or after January 1, 2021, effectively allowing such businesses to claim deductions that were previously prohibited due to the federal tax code's restrictions on businesses involved in the sale of controlled substances.

Committee Categories

Budget and Finance

Sponsors (5)

Chynah Tyler (D)*, Nika Elugardo (D), Matt Muratore (R), Dave Robertson (D), Bud Williams (D),

Last Action

Accompanied H3045 (on 04/07/2022)

Official Document

https://malegislature.gov/Bills/192/H3079

(13 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/H3079
Bill	https://malegislature.gov/Bills/192/H3079.pdf

Bill	Bill Name	Last Action	Type
H2959	Relative to the taxation of rolling stock	No further action taken	Similar To
H2981	To insure fair taxation of affordable housing	Accompanied a study order, see H5247	Similar To
H3008	Relative to condominiums	No further action taken	Similar To
H3045	Rescinding the discriminatory effect of IRC 280E on businesses legally selling marijuana	No further action taken	Replaced by
H3097	Relative to the taxation of inventory in manufacturing	Accompanied a study order, see H5247	Similar To
H4009	Relative to the taxation of pass-through entities	Chapter 69 of the Acts of 2021	Similar To
S1900	Establishing a tax credit for employment of national guard members	Accompanied H2857	Similar To
S1913	Relative to the fair taxation of alcoholic beverages	Accompanied a study order, see H5250	Similar To
S1928	Relative to the taxation of small business in the Commonwealth	Accompanied a study order, see H5248	Similar To
S1938	To increase accountability in the sale of personal data	Accompanied a study order, see H5279	Similar To
S1984	Relative to the taxation of rolling stock	Accompanied H2959	Similar To
S2404	Providing for prisoners of war	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S2526	Relative to raising the income threshold for senior real property tax deferments in the town of Milton	Signed by the Governor, Chapter 71 of the Acts of 2022	Similar To

Bill > H3079

MA H3079

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (5)

Last Action

Official Document

bill text

bill summary

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