Marijuana Farmers Unlikely To See Farm Tax Perks

Meg Sanders inspects drying marijuana at her grow house in Denver. The agriculture tax questions facing the marijuana industry are the latest wrinkle for the states flouting federal drug law and trying to establish commercial recreational pot industries. The states have settled how to tax marijuana once it's dried and ready to smoke. But they're still debating how to tax it while it's growing.

COLORADO:   Marijuana farmers and agricultural tax breaks are the next wrinkle facing the states that have legal weed as lawmakers debate how to tax the product while it’s growing.

Legislatures in both Colorado and Washington are taking a look at pot farmers this session.

The states have already decided how to tax finished marijuana. But they are still mulling taxes as pot is produced, such as how the land on which marijuana is grown should be assessed for property taxes.

Some lawmakers in both states say marijuana growers shouldn’t be eligible for any taxation perks afforded to farmers that grow conventional crops. Others say that marijuana while it’s growing should be treated like the hops and barley that go on to become highly taxed alcohol.

Read full article @ Washington Examiner

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>