Bill > S1244

This bill amends Section 220.13 of the Florida Statutes, which defines "adjusted federal income" for the purpose of calculating corporate income tax. The key provision allows medical marijuana treatment centers to subtract from their taxable income any expenditures that would have been eligible for a federal income tax deduction, but were disallowed because marijuana is considered a controlled substance under federal law. This change aims to provide tax relief for medical marijuana businesses in Florida, which operate in a legal gray area at the state level but remain federally prohibited.