Delaware § 1625 Special rules for certain tax deductions for pass-through entities

Delaware Statutes

§ 1625 — Special rules for certain tax deductions for pass-through entities

Delaware·Title 30·Part Income, Inheritance and Estate Taxes·Ch. 16 PASS-THROUGH ENTITIES, ESTATES AND TRUSTS·Subch. Taxation of Pass-Through Entities and Their Members

(a)Definitions. — As used in this section:

(1)“Qualified business” means a pass-through entity operating a marijuana establishment pursuant to Chapter 13 of Title 4 or Chapter 49A of Title 16.

(2)“Qualified expenses” mean the ordinary and necessary business expenses paid or incurred for the taxable year in carrying on a qualified business, which are disallowed as a deduction for federal purposes pursuant to § 280E of the Internal Revenue Code [26 U.S.C. § 280E].

(b)Deduction. — A pass-through entity operating a qualified business may deduct its qualified expenses in computing its total income.

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(a)Definitions. —

As used in this section:

(1) “Qualified business” means a pass-through entity operating a marijuana establishment pursuant to Chapter 13 of Title 4 or Chapter 49A of Title 16.

(2) “Qualified expenses” mean the ordinary and necessary business expenses paid or incurred for the taxable year in carrying on a qualified business, which are disallowed as a deduction for federal purposes pursuant to § 280E of the Internal Revenue Code [26 U.S.C. § 280E].

(b)Deduction. —

A pass-through entity operating a qualified business may deduct its qualified expenses in computing its total income.

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