SB436 - Authorizes an income tax deduction for certain expenses related to operating a medical marijuana business

SB 436

Authorizes an income tax deduction for certain expenses related to operating a medical marijuana business

Sponsor:

Hoskins

LR Number:

1991S.01I

Committee:

Ways and Means

Last Action:

3/25/2021 - Voted Do Pass S Ways and Means Committee

Journal Page:

Title:

Calendar Position:

Effective Date:

August 28, 2021

Current Bill Summary

SB 436 - This act allows taxpayers authorized under the Missouri Constitution to operate a business related to medical marijuana to claim an income tax deduction in an amount equal to any expenditures otherwise allowable as a federal income tax deduction, but that are disallowed for federal purposes because cannabis is a controlled substance under federal law.

This act is substantially similar to HB 877 (2021)) and to a provision contained in CCS/HCS/SB 226 (2021) and HCS/SS/SB 283 (2021).

JOSH NORBERG

Amendments

No Amendments Found.