26 U.S.C. § 280E
Expenditures in connection with the illegal sale of drugs
United States · Title 26 — INTERNAL REVENUE CODE · Status: effective
Cite this
- Citation
- 26 U.S.C. § 280E, Expenditures in connection with the illegal sale of drugs, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/462355
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Full text
No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of trafficking in controlled substances (within the meaning of schedule I and II of the Controlled Substances Act) which is prohibited by Federal law or the law of any State in which such trade or business is conducted.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Tax Equity and Fiscal Responsibility Act of 1982House: no recorded tallySenate: no recorded tally