Signed as Law: Illinois Eliminates State Conformity with IRS Section 280E for Marijuana Businesses
Provisions in the budget bill decouple the state tax code from federal tax code as it applies to deductions for marijuana businesses. In effect, the changes will allow marijuana businesses in Illinois to take tax deductions on their state returns that they’re currently prohibited from utilizing.
The post Signed as Law: Illinois Eliminates State Conformity with IRS Section 280E for Marijuana Businesses first appeared on Tenth Amendment Center.