S 471 · 119th Congress

No Deductions for Marijuana Businesses Act

This bill would prevent marijuana businesses from deducting business expenses on their federal taxes. Currently, federal law already prohibits tax deductions for businesses involved in illegal drug trafficking. This bill clarifies and reinforces that marijuana businesses—even those operating legally under state law—…

Sponsor

Lankford, James (R-Oklahoma)

Introduced

2025-02-06

Policy area

Taxation

Latest action

Read twice and referred to the Committee on Finance.