Federal legislation, XXXXX, is pending in the House and Senate to amend the federal tax code so that state-licensed, marijuana-related businesses are no longer unduly penalized by federal laws. NORML supports these legislative efforts.
These measures amend Section 280E of the Federal Income Tax Code so that state-compliant marijuana operators for the first time can take business deductions for standard expenses such as rent and employee compensation and benefits — just like other legally licensed business entities.
According to a 2017 report, over 120,000 workers are now employed full time in the legal cannabis industry. Allowing deductions for rent and employee costs would help these businesses grow economically and would provide incentives for hiring additional employees.
The marijuana industry is an economic generator for America. Businesses in this space should be regulated by the federal tax code in a manner that is fair, will help stimulate economic growth, and that treats the marijuana industry and those who operate in it like any other legally sanctioned business.
National Organization for the Reform of Marijuana Laws – Advocacy Campaigns
