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In the United States, wash sale laws are codified in "26 USC § 1091 - Loss from wash sales of stock or securities". The corresponding treasury regulations are given by CFR 1.1091-1 [ 7 ] and 1.1091-2.
A wash sale is when you sell an asset, such as a stock or bond, for a loss but have purchased the same asset or a very similar one within 30 days before or after the sale.
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Legislators filed nearly 10,000 bills in the past two years of the 103rd Illinois General Assembly. They passed 479 of them. More could be coming before they wrap things up during lame duck session.
The Cannabis Regulation and Tax Act (Illinois House Bill 1438) is an act legalizing and regulating the production, consumption, and sale of cannabis in Illinois.It was approved by both houses by May 31, 2019 and came into effect January 1, 2020.
[24] [25] [26] Recreational-use revenue in Illinois is expected to reach an estimated $1.6 billion a year. [27] Illinois became the first state in the nation to legalize cannabis for recreational sale through a state legislature rather than ballot initiative. [28] Overall, Illinois is the 11th state in the US to allow recreational marijuana. [29]
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