Michigan Laws 333.27962 – Deduction of certain expenses from income
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Terms Used In Michigan Laws 333.27962
- Marihuana: means any of the following:
(i) A plant of the genus Cannabis, whether growing or not. See Michigan Laws 333.27953state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
In computing net income for marihuana establishments, deductions from state taxes are allowed for all the ordinary and necessary expenses paid or incurred during the taxable year in carrying out a trade or business.