Medical Marijuana Businesses Subject of Federal Tax Proposal Sponsored by Rep. Jared Polis

Marijuana businesses looking for help navigating the federal tax code are watching a congressional proposal sponsored by Colorado Rep. Jared Polis. Polis and other House members introduced legislation about medical marijuana. One of the bills would allow marijuana-related businesses to claim business deductions on their federal taxes. Currently the IRS does not permit marijuana-related business to claim business deductions.