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Internal Revenue Code of 1986

The official body of federal tax laws in the United States.

Deduction

An expense that can be subtracted from a business's income before calculating how much tax is owed, reducing the overall tax bill.

Credit

A direct reduction of the amount of tax owed, usually dollar-for-dollar.

Taxable year

The annual accounting period used for calculating income tax, typically the calendar year or a fiscal year.

Controlled Substances Act

A federal law that regulates the manufacture, importation, possession, use, and distribution of certain drugs, categorizing them into schedules based on their potential for abuse and medical value.

Trafficking

The illegal production, distribution, or sale of goods, in this context, controlled substances like marijuana.