A bill filed in the Virginia House eliminate the state’s conformity with Internal Revenue Code (IRC) Section 280E. The enactment of this provision would represent a small, but important state tax relief for medical marijuana businesses despite ongoing federal cannabis prohibition.
“It would have been the signature achievement of the session,” said Sen. Joseph Morrissey, D-Richmond. “Everybody’s talking about the marijuana bill, but that pales in comparison to the mandatory minimum bill.”
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