SB 278 - Hoskins, Denny
Authorizes an income tax deduction for business expenses related to the sale of marijuana
Bill Details
Sponsor
LR Number
0711S.01I
Title
SB 278
House Handler
N/A
Journal Page
Effective Date
August 28, 2023
Committee
Current Status
Second Read and Referred S Governmental Accountability Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 278 - 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 identical to SB 436 (2021) and to a provision in HCS/SS/SB 807 (2022) and SS#2/SCS/SB 649 (2022), and is substantially similar to HB 1901 (2022), HB 877 (2021), HB 2667 (2022), and to a provision in HCS/HB 2704 (2022), CCS/HCS/SB 226 (2021), and HCS/SS/SB 283 (2021).
JOSH NORBERG