WASHINGTON, April 5, 2017 /Weed Wire/ — Today, Representatives Carlos Curbelo (FL–26) and Earl Blumenauer (OR–3) introduced the Small Business Tax Equity Act of 2017, H.R. 1810.
Tag Archives: Internal Revenue Code
WASHINGTON, March 30, 2017 /Weed Wire/ — Senate Finance Committee Ranking Member Ron Wyden, D-Ore., along with senior member of the House Ways and Means Committee Representative Earl Blumenauer, D-Ore., today introduced three pieces of legislation to preserve the integrity of state marijuana laws and provide a path for responsible federal legalization and regulation of the marijuana industry.
Starting over in the world of legal marijuana can be very difficult because, as the Tenth Circuit Court of Appeals recently confirmed, there is no bankruptcy relief for marijuana businesses. Without that option, a business failure can mean permanent financial ruin for the cannabis entrepreneur.
On April 9, 2015, Rep. Earl Blumenauer and Sen. Ron Wyden announced that they will introduce the Small Business Tax Equity Act of 2015 in Congress next week. The purpose of the bill is to amend Section 280E of the Internal Revenue Code.
Legal is good. Legal and prosperous is better, as far as investors are concerned. Now that five jurisdictions have opened the door to a recreational marijuana industry, it is time to re-examine the legal structure it takes to support a healthy business climate.