S. 471 is a proposed law that seeks to amend the Internal Revenue Code of 1986. The main aim of this bill is to maintain the current ban on tax deductions or credits for expenses related to businesses that deal in marijuana and other federally illegal drugs. Specifically, it...
Simple Explanation
S. 471 is a plan to keep a rule that says businesses selling marijuana can't get special breaks on their taxes, even if marijuana is okay to sell in some states. This rule helps make sure businesses must pay all their taxes if what they're selling is not allowed by the big federal rules.