§ 280e. - Expenditures in Connection With the Illegal Sale of Drugs

26 U.S.C. § 280E
in: § 280e. - Expenditures in Connection With the Illegal Sale of Drugs
Previous § 280d. - Repealed. Pub. L. 100–418, Title I, § 1941(b)(4)(a), Aug. 23, 1988, 102 Stat. 1324Next § 280f. - Limitation on Depreciation for Luxury Automobiles; Limitation Where Certain Property Used for Personal Purposes

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. (Added Pub. L. 97–248, title III, § 351(a), Sept. 3, 1982, 96 Stat. 640.)

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