Loading…
Small Business Tax Equity Act of 2023
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
0pct
0d open
vs 10,564 other HR bills in the 118th — cohort avg 68d
Small Business Tax Equity Act of 2023 This bill exempts a trade or business that conducts marijuana sales in compliance with state law from a provision in the Internal Revenue Code that prohibits business-related tax credits or deductions for expenditures in connection with trafficking in controlled substances.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (4)
2024 · fourth_quarter · Taxation/Internal Revenue Code
Educate Members of Congress on Section 280e of the Internal Revenue Code and support for H.R. 2643, Small Business Tax Equity Act.
Client expense: Not reported · Firm income: $80,000
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR E320)
Introduced in House
Congress.gov source codes: 1000, Intro-H
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2024 · third_quarter · Taxation/Internal Revenue Code
Educate Members of Congress on Section 280e of the Internal Revenue Code and support for H.R. 2643, Small Business Tax Equity Act.
Client expense: Not reported · Firm income: $80,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2024 · second_quarter · Taxation/Internal Revenue Code
Educate Members of Congress on Section 280e of the Internal Revenue Code and support for H.R. 2643, Small Business Tax Equity Act.
Client expense: Not reported · Firm income: $80,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2024 · first_quarter · Taxation/Internal Revenue Code
- Eligibility for 45Q Tax Credits - Tax Excessive CEO Pay Act - The Small Business Tax Equity Act - HR 2643 - Carried Interest Fairness Act
Client expense: $294,592 · Firm income: Not reported
Government targets: SENATE, Treasury, Dept of
2024 · first_quarter · Taxation/Internal Revenue Code
Educate Members of Congress on Section 280e of the Internal Revenue Code and support for H.R.2643, Small Business Tax Equity Act.
Client expense: Not reported · Firm income: $80,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2023 · fourth_quarter · Taxation/Internal Revenue Code
- Curtailing Executive Overcompensation (CEO)Act - Eligibility for 45Q Tax Credits - Tax Excessive CEO Pay Act - The Small Business Tax Equity Act - HR 2643
Client expense: $323,443 · Firm income: Not reported
Government targets: SENATE, Treasury, Dept of
2023 · fourth_quarter · Taxation/Internal Revenue Code
H.R.2643 - Small Business Tax Equity Act of 2023; lobbied on behalf of a medical marijuana company for the passage of the Small Business Tax Equity Act to amend 280E and allow state-legal marijuana companies to take tax deductions available to companies in other industries. Lobbied for the rescheduling of marijuana from Schedule 1 to Schedule 3 to open up fair banking and tax deductions opportunities for state-legal marijuana companies.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2023 · fourth_quarter · Taxation/Internal Revenue Code
Educate Members of Congress on Section 280e of the Internal Revenue Code and support for H.R.2643, Small Business Tax Equity Act.
Client expense: Not reported · Firm income: $40,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2023 · second_quarter · Taxation/Internal Revenue Code
Currently, IRC 280E[1] prevents any business trafficking in Schedule I or Schedule II controlled substances from taking any business deductions or credits - except for cost of goods sold.This means cannabis businesses doe not have access to tax deductions or tax credits that are routinely offered to other domestic industries. Instead, cannabis companies are often faced with an effective tax rate of 70% or more. NCR discussed policy provisions that would provide tax equity for state-regulated cannabis companies by amending Section 280E of the tax code, including H.R. 2643, the Small Business Tax Equity Act of 2023.
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2023 · first_quarter · Taxation/Internal Revenue Code
Currently, IRC 280E[1] prevents any business trafficking in Schedule I or Schedule II controlled substances from taking any business deductions or credits - except for cost of goods sold.This means cannabis businesses doe not have access to tax deductions or tax credits that are routinely offered to other domestic industries. Instead, cannabis companies are often faced with an effective tax rate of 70% or more. NCR discussed policy provisions that would provide tax equity for state-regulated cannabis companies by amending Section 280E of the tax code, including H.R. 2643, the Small Business Tax Equity Act of 2023.
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2023 · first_quarter · Taxation/Internal Revenue Code
Currently, IRC 280E[1] prevents any business trafficking in Schedule I or Schedule II controlled substances from taking any business deductions or credits - except for cost of goods sold.This means cannabis businesses doe not have access to tax deductions or tax credits that are routinely offered to other domestic industries. Instead, cannabis companies are often faced with an effective tax rate of 70% or more. NCR discussed policy provisions that would provide tax equity for state-regulated cannabis companies by amending Section 280E of the tax code, including H.R. 2643, the Small Business Tax Equity Act of 2023.
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
| Democratic |
| IL |
| David P. Joyce | Republican | OH |
| Dean Phillips | Democratic | MN |
| Dwight Evans | Democratic | PA |
| Eleanor Holmes Norton | Democratic | DC |
| James P. McGovern | Democratic | MA |
| Nancy Mace | Republican | SC |
| Troy A. Carter | Democratic | LA |
| Val T. Hoyle | Democratic | OR |