No Deductions for Marijuana Businesses Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsors
- 13
- Latest action
- Feb 21, 2025
What it does
The No Deductions for Marijuana Businesses Act would amend the Internal Revenue Code to permanently prohibit businesses involved in trafficking marijuana from claiming any federal tax deductions or credits related to their operations. This applies to any trade or business engaged in marijuana trafficking, as defined by federal law, regardless of whether state law permits such activity. The change would take effect for expenses incurred after the bill’s enactment, reinforcing existing IRS restrictions under Section 280E that currently disallow tax benefits for illegal drug-related businesses. The bill affects marijuana businesses operating in states where cannabis is legal but remains…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money.