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New law permits NJ cannabusinesses to claim state tax deductions (updated) (from http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=6462c1f5590e46ebb6557ce76619c398&url=https%3a%2f%2fnjbiz.com%2fnew-law-permits-nj-cannabusinesses-to-claim-state-tax-deductions%2f&c=267329099386718699&mkt=en-us)
According to Section 280E of the IRS code, cannabis-related ventures are blocked from deducting typical business expenses on state and federal returns since marijuana is classified as a Schedule I ...