H.R. 9702 · 117th Congress

To amend the Internal Revenue Code of 1986 to allow deductions and credits relating to expenditures in connection with marijuana sales conducted in compliance with State law.

Stage
In committee
Sponsor
Nancy Mace
Introduced
2022-12-30
Latest action
2022-12-30 · Introduced in House

Summary

This bill exempts a trade or business that conducts marijuana sales in compliance with state law from a provision in the Internal Revenue Code that prohibits business-related tax credits or deductions for expenditures in connection with trafficking in controlled substances.