Prohibits deductions or credits for businesses trafficking in marijuana under federal or state law.

The No Deductions for Marijuana Businesses Act amends the Internal Revenue Code to maintain the prohibition on allowing any deduction or credit for businesses involved in trafficking marijuana. This applies to businesses operating in states where marijuana is illegal under federal or state law. The changes take effect for amounts paid or incurred after the enactment date in taxable years ending after that date.

Prohibits deductions or credits for businesses trafficking in marijuana under federal or state law.

The No Deductions for Marijuana Businesses Act amends the Internal Revenue Code to maintain the prohibition on allowing any deduction or credit for businesses involved in trafficking marijuana. This applies to businesses operating in states where marijuana is illegal under federal or state law. The changes take effect for amounts paid or incurred after the enactment date in taxable years ending after that date.