US SB987 | 2015-2016 | 114th Congress
Status
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: Introduced on April 16 2015 - 25% progression, died in committee
Action: 2015-04-16 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2249; text of measure as introduced: CR S2249)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 16 2015 - 25% progression, died in committee
Action: 2015-04-16 - Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2249; text of measure as introduced: CR S2249)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Small Business Tax Equity Act of 2015 Amends the Internal Revenue Code to exempt a trade or business that conducts marijuana sales in compliance with state law from the prohibition against allowing business-related tax credits or deductions for expenditures in connection with trafficking in controlled substances.
Title
Small Business Tax Equity Act of 2015
Sponsors
| Sen. Ron Wyden [D-OR] | Sen. Jeff Merkley [D-OR] | Sen. Michael Bennet [D-CO] | Sen. Rand Paul [R-KY] |
| Sen. Christopher Murphy [D-CT] |
History
| Date | Chamber | Action |
|---|---|---|
| 2015-04-16 | Senate | Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2249; text of measure as introduced: CR S2249) |
Same As/Similar To
HB1855 (Same As) 2015-04-16 - Referred to the House Committee on Ways and Means.
Subjects
Alternative treatments
Business investment and capital
Drug trafficking and controlled substances
Income tax credits
Income tax deductions
Retail and wholesale trades
Taxation
Business investment and capital
Drug trafficking and controlled substances
Income tax credits
Income tax deductions
Retail and wholesale trades
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/114th-congress/senate-bill/987/all-info |
| Text | https://www.congress.gov/114/bills/s987/BILLS-114s987is.pdf |
