§ 17209. — 17209. (Amended by Stats. 2024, Ch. 34, Sec. 19.)

California § 17209.

• Jurisdiction: California
• Code RTC: Revenue and Taxation Code - RTC
• Div. 2.: DIVISION 2. OTHER TAXES
• Part 10.: PART 10. PERSONAL INCOME TAX
• Ch. 3.: CHAPTER 3. Computation of Taxable Income
• Art. 6.: ARTICLE 6. Deductions

Text

(a)
For each taxable year beginning on or after January 1, 2020, and before January 1, 2030, Section 280E of the Internal Revenue Code, relating to expenditures in connection with the illegal sale of drugs, shall not apply to the carrying on of any trade or business that is commercial cannabis activity by a licensee.
(b)
For purposes of this section, “commercial cannabis activity” and “licensee” shall have the same meanings as set forth in Division 10 (commencing with Section 26000) of the Business and Professions Code.
(c)
This section shall remain in effect only until December 1, 2030, and as of that date is repealed.

Legislative History

Amended by Stats. 2024, Ch. 34, Sec. 19. (SB 167) Effective June 27, 2024. Repealed as of December 1, 2030, by its own provisions.