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II
116TH CONGRESS
1ST SESSION
S. 422
To amend the Internal Revenue Code of 1986 to allow deductions and
credits relating to expenditures in connection with marijuana sales con-
ducted in compliance with State law.
IN THE SENATE OF THE UNITED STATES
FEBRUARY 7, 2019
Mr. WYDEN (for himself, Mr. PAUL, Mr. BENNET, and Mrs. MURRAY) intro-
duced the following bill; which was read twice and referred to the Com-
mittee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to allow deduc-
tions and credits relating to expenditures in connection
with marijuana sales conducted in compliance with State
law.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Small Business Tax
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Equity Act of 2019’’.
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•S 422 IS
SEC. 2. ALLOWANCE OF DEDUCTIONS AND CREDITS RELAT-
1
ING
TO
EXPENDITURES
IN
CONNECTION
2
WITH MARIJUANA SALES CONDUCTED IN
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COMPLIANCE WITH STATE LAW.
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(a) IN GENERAL.—Section 280E of the Internal Rev-
5
enue Code of 1986 is amended by inserting before the pe-
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riod at the end the following: ‘‘, unless such trade or busi-
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ness consists of marijuana sales conducted in compliance
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with State law’’.
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(b) EFFECTIVE DATE.—The amendment made by
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this section shall apply with respect to taxable years end-
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ing after the date of the enactment of this Act.
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Æ
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