Cannabis News Box

Lawmakers might give cannabis businesses crucial tax relief

Lawmakers might give cannabis businesses crucial tax relief

May 9, 2018


Filed under News, Politics, Showcase

Thor Benson / Cannabis News Box Contributor As the tax code stands, a section called 280E makes it impossible for cannabis businesses to write off necessary expenses, like rent and wages. This is a major problem for cannabis business owners and can result in them spending tens of thousands of dolla...

Federally legal cannabis could generate $106 billion in tax revenue

Federally legal cannabis could generate $106 billion in tax revenue

March 13, 2018


Filed under News, Social cannabis

If cannabis were fully legalized under federal law, the plant could generate $105.6 billion in tax revenue, according to numbers from New Frontier Data. Legalization nationwide could also produce 1 million new jobs by 2025. "Under the new business tax rate of 21 percent, the Trump tax cuts will come as welcome relief to cannabis business owners who already face tax hurdles bec...

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