Sec. 12. 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.
Mich. Comp. Laws § 333.27962
Deduction of certain expenses from income
Known as the Michigan Regulation and Taxation of Marihuana Act
The act spans §§ 333.27951 to 333.27967 (19 sections).
2018, Initiated Law 1, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.