113 HR 2240 IH: Small Business Tax Equity Act of 2013 U.S. House of Representatives 2013-06-04 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 113th CONGRESS 1st Session H. R. 2240 IN THE HOUSE OF REPRESENTATIVES June 4, 2013 Mr. Blumenauer (for himself, Mr. Rohrabacher, Mr. Polis, Mr. Smith of Washington, Mr. Farr, Mr. Cohen, Mr. Perlmutter, and Ms. Lee of California) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to allow deductions and credits relating to expenditures in connection with marijuana sales conducted in compliance with State law.

1.

Short title

This Act may be cited as the Small Business Tax Equity Act of 2013.

2.

Allowance of deductions and credits relating to expenditures in connection with marijuana sales conducted in compliance with State law

(a)

In general

Section 280E of the Internal Revenue Code of 1986 is amended by inserting before the period at the end the following: , unless such trade or business consists of marijuana sales conducted in compliance with State law. (b)

Effective date

The amendment made by this section shall apply with respect to taxable years ending after the date of the enactment of this Act.