Bill Introduced in US House of Representatives to Allow Tax Breaks - TopicsExpress

Bill Introduced in US House of Representatives to Allow Tax Breaks for Medical Marijuana In a news conference yesterday, Reps. Blumenauer (D-OR), Perlmutter (D-CO) and Polis (D-CO) called for producers and sellers of medical marijuana getting the same tax breaks as other small businesses. With the support of the medical marijuana industry, these 3 lawmakers introduced the Small Business Tax Equity Bill to allow medical marijuana dispensaries to take standard business deductions when computing their taxes. Rep. Blumenauer criticized federal tax laws that prohibit state-legal businesses from deducting legitimate operating business expenses. Ean Seeb, Vice-Chair of the National Cannabis Industry Association Board of Directors, said his group is fighting for parity on issues like taxes and banking.

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