HB1202:

Conformity with the Internal Revenue Code; cannabis licensees.

Bill Summary:

Conformity with the Internal Revenue Code; cannabis
licensees. Deconforms from federal law, as it applies to Virginia
medical and recreational cannabis licensees, the prohibition on a
deduction or credit for any amount paid or incurred during the taxable
year in carrying on any trade or business if such trade or business
consists of trafficking in a controlled substance prohibited by federal
law.