The No Deductions for Marijuana Businesses Act maintains the prohibition on deductions for businesses trafficking in marijuana.

The No Deductions for Marijuana Businesses Act amends the Internal Revenue Code to ensure that businesses involved in trafficking marijuana cannot claim any deductions or credits. This prohibition applies to businesses trafficking in marijuana or controlled substances listed in schedules I and II of the Controlled Substances Act, activities that are illegal under federal or state law. The changes take effect for amounts paid or incurred after the date of the enactment of this Act.

The No Deductions for Marijuana Businesses Act maintains the prohibition on deductions for businesses trafficking in marijuana.

The No Deductions for Marijuana Businesses Act amends the Internal Revenue Code to ensure that businesses involved in trafficking marijuana cannot claim any deductions or credits. This prohibition applies to businesses trafficking in marijuana or controlled substances listed in schedules I and II of the Controlled Substances Act, activities that are illegal under federal or state law. The changes take effect for amounts paid or incurred after the date of the enactment of this Act.