By Taxpayers Association of Oregon Foundation,
A Portland Democrat in Congress wants the federal government to reform laws so legal cannabis businesses such as those in Oregon can tap into tax deductions as well as banking and financial services offered to other businesses, according to the Portland Business Journal.
To that end, Rep. Earl Blumenauer introduced the Small Business Tax Equity Act with an exception that would let legal cannabis businesses take business tax deductions for rent, utilities, payroll, or hiring veterans because marijuana remains an illegal substance under federal law. Blumenauer described a lack of access to those tax deductions as “hopeless unfair” to cannabis businesses that pay two or three times more than other businesses in taxes.
