American Cannabis Report Quotes Epstein on GOP Tax Reform as Potential Cannabis Boost
The American Cannabis Report contacted BGP's Ruth Epstein for her observations regarding a recent CNBC article on a potential benefit of the GOP tax reform policy. The CNBC article, "How Tax Reform Could Push More States to Legalize Marijuana" suggests that certain high-tax states are slated to lose State and Local Tax (SALT) revenues under the new GOP plan, which will cause them to raise taxes 7-8% to make up the shortfall. These states risk losing residents who might leave
Conservatives Act to Protect Cannabis Industry via Rohrabacher-Blumenauer Amendment
From Ganjapreneur: "A coalition of conservative groups has sent a letter to federal legislative leaders urging them to preserve the Rohrabacher-Blumenauer Amendment, which protects state-approved medical cannabis programs from federal interference. The letter’s signatories include the Competitive Enterprise Institute, the American Enterprise Institute, Campaign for Liberty, Center for Freedom and Prosperity, Institute for Liberty, and Taxpayer’s Protection Alliance. “On behal
Reuters: Combining High Tech, High Finance and High Times in Cannabis
"The legal cannabis market, currently worth about $8 billion, is predicted to triple in size to $22.6 billion in total annual sales by 2021, according to cannabis industry tracker, Arcview Market Research. That could make it bigger than the America’s most profitable sports organization, the National Football League, which saw about $13 billion in revenue last year and aims to reach $25 billion by 2027." - Reuters Two years ago, Alan Gertner was head of Google’s Asia-Pacific s
(Almost) Everyone Wants 280E to Go Away
With a looming congressional vote on a massive revision of US tax structure, the issue of the inequitable taxation on state-legal cannabis businesses has charged to the fore. And with good reason: a typical American business pays 30% of its "taxable income" in taxes, which means the amount of income after deductible business expenses are subtracted. On the other hand, a typical state-legal cannabis business (a licensed business in one of the 29 states + the District of Columb
