By Moira Warburton WASHINGTON - A U.S. Senate committee on Wednesday will vote on whether to advance a bill that would allow the legal cannabis industry access to banking, an option thatBy Moira Warburton
They point to issues including Section 280E of the federal tax code, which states that businesses dealing in illicit substances cannot write off the costs of doing business from their taxes. The disconnect between the federal and state governments is concerning for the $13.2 billion legal marijuana industry.
A 2022 poll from Pew Research found that 88% of Americans believed some form of cannabis should be legal, with 59% believing in legalization of both medical and recreational use.
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