Bill > H1427

This bill amends the definition of "adjusted federal income" in Florida's tax code to allow licensed medical marijuana treatment centers to subtract certain deductions and credits from their taxable income. Specifically, the bill allows these centers to deduct the amounts they would have been able to deduct for federal income tax purposes if not for the federal tax provision known as Section 280E, which disallows deductions and credits for businesses that traffic in controlled substances. The bill provides an effective date of July 1, 2024.

Budget and Finance

https://www.flsenate.gov/Session/Bill/2024/1427