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No Tax Deductions for Marijuana and Controlled Substance Businesses.

This bill aims to maintain the prohibition on tax deductions and credits for businesses involved in trafficking marijuana and other controlled substances, if prohibited by federal or state law. This means these businesses cannot reduce their taxes by deducting expenses related to their operations, potentially impacting their profitability and product pricing.
Key points
Businesses trafficking marijuana or other controlled substances will not be allowed tax deductions or credits.
The prohibition applies if the activity is illegal under federal or state law where the business operates.
The changes will apply to expenses paid or incurred after the bill's enactment date.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1447
Sponsor: Rep. Arrington, Jodey C. [R-TX-19]
Process start date: 2025-02-21
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

No Deductions for Marijuana Businesses Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1447.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-02-21.

What are the main provisions?

Key points include:

  • Businesses trafficking marijuana or other controlled substances will not be allowed tax deductions or credits.
  • The prohibition applies if the activity is illegal under federal or state law where the business operates.
  • The changes will apply to expenses paid or incurred after the bill's enactment date.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Arrington, Jodey C. [R-TX-19].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Taxes