Pennsylvania –– JULY 2022 Cannabinoid Monthly Playbook

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Pennsylvania cannabis news

Pennsylvania lawmakers have advanced a medical cannabis tax relief amendment through the House Finance Committee. The measure would allow cannabis businesses, like other industries, to file state tax deductions for expenses. It is intended as relief from section 280E of the Internal Revenue Service federal tax code, which currently prevents businesses that work with controlled substances from taking certain deductions. In April, the Pennsylvania Senate passed a banking bill protecting state financial institutions from penalties for working with medical cannabis businesses. It has yet to pass the House.

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