“If cannabis businesses are to have any hope of operating safely, transparently, and in a manner that is competitive with the existing underground market, Congress must pass SAFE Banking now.”
Tag: David Joyce
The legislation provides a temporary five-year “safe harbor” in which veterans will not be punished for state-legal cannabis use and VA doctors will be able to officially recommend medical cannabis in accordance with state laws. The VA would also be mandated to study the potential benefits of cannabis for veterans to treat pain, PTSD, and other conditions.
The Small Business Tax Equity Act provides an exemption for state-licensed cannabis businesses from federal tax code 280E, which prevents anyone engaged in the trade of certain federally prohibited substances from deducting business expenses.