Legislation pending in Congress would remove marijuana from the list of substances in the Controlled Substances Act, resulting in repeal of the income tax disallowance of deductions for marijuana businesses, currently unable to deduct business expenses
Key Takeaways: ..A pending U.S. Tax Court case presents an interesting theory to preclude the federal income tax disallowance of all deductions of a marijuana business. ..The.
Legislation pending in Congress would remove marijuana from the list of substances in the Controlled Substances Act, resulting in repeal of the income tax disallowance of deductions for marijuana businesses, currently unable to deduct business expenses