This code section provides: 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 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.
Charles R Goulding Attorney/CPA, is the President of R&D Tax Savers.
Michael Wilshere is a Tax Analyst with R&D Tax Savers.
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