HB6941 – CLibertyC

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

Post author:Tenth Amendment Center
Post published:June 14, 2023
Post category:Connecticut Network Archives Sovereignty Tenth Amendment Center

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.

The post Signed as Law: Connecticut Eliminates State Conformity with IRS Section 280E for Marijuana Businesses first appeared on Tenth Amendment Center.

To the Governor: Connecticut Bill Would Eliminate State Conformity with IRS Section 280E for Marijuana Businesses

Post author:Tenth Amendment Center
Post published:June 8, 2023
Post category:Connecticut Network Archives Sovereignty Tenth Amendment Center

the Connecticut Senate gave final approval to a bill that includes provisions that would eliminate the state’s conformity with Internal Revenue Code (IRC) Section 280E. The enactment of this provision would represent a small, but important state tax relief for marijuana businesses despite ongoing federal cannabis prohibition.

The post To the Governor: Connecticut Bill Would Eliminate State Conformity with IRS Section 280E for Marijuana Businesses first appeared on Tenth Amendment Center.