Lawmakers Push IRS To Issue ‘Prompt’ Tax Guidance For Marijuana Businesses Now That Rescheduling Is Happening
Congressional lawmakers are urging the IRS to provide expedited tax guidance for state-legal cannabis businesses following the Trump administration's move to reschedule cannabis at the federal level. The letter, led by Representatives Steven Horsford and Steve Cohen, highlights that cannabis businesses have been unable to claim ordinary business tax deductions under current IRS policy.
Filed under Federal Action in THC Minnesota's coverage of Minnesota's cannabis and hemp market.
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