GOP Senator Wants Tax Cut for Cannabis Businesses

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GOP Senator Wants Tax Cut for Cannabis Businesses

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A Republican senator from a state where marijuana is legal is pushing this week to give cannabis businesses a measure of tax fairness.

Sen. Cory Gardner of Colorado wants to attach an amendment to a wide-ranging Republican-led tax reform bill that would allow state-legal marijuana growers, processors and sellers to deduct normal businesses expenses from their taxes, just like operators in other industries can.

Under current federal law, a provision forces cannabis businesses to pay a much higher tax.

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