Signed as Law: Connecticut Eliminates State Conformity with IRS Section 280E for Marijuana Businesses

Provisions in the bill also decouple the state tax code from federal law as it applies to deductions for marijuana businesses. In effect, the new law allows marijuana businesses in Connecticut to take tax deductions on their state returns that they’re currently prohibited from utilizing.

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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.

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Today in History: Rhode Island Becomes First Colony to Ban Importation of Slaves

Despite the large slave population, and the colony serving as a key player in the slave trade, abolitionist sentiment grew, and on June 13, 1774, the colony enacted “An Act for Prohibiting the Importation of Negros.”

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Signed as Law: Colorado Allows Online Payments for Marijuana Despite Federal Prohibition

DENVER, Colo. June 12, 2023 – Earlier this month, Colorado Gov. Jared Polis signed a bill legalizing online payments for marijuana in the state despite ongoing federal cannabis prohibition. Rep. William Lindstedt, Rep. Said Sharbini and Rep. Robert Rodriguez introduced House Bill 1279 (HB1279) on March 30. The new law repeals language in state law […]

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