Medical Marijuana Factories’ Tax Break Nipped In The Bud

CANADA:  A tax loophole that gave medical marijuana factories a massive tax break is being nipped in the bud by the B.C. government.

“The government has made the decision that medical marijuana as well as any other federally regulated narcotic will not be eligible for farm classification for property taxes,” Coralee Oakes, Minister of Community, Sport and Cultural Development told the Times Colonist today.

Many local governments have been raising the alarm about the so-called “llama loophole” that enabled new medical marijuana grow-ops to claim farm status to avoid paying property taxes.

The term dates to 2012, when a Chilliwack business owner, who had placed llamas on his land, successfully argued that his commercial property was being used for agriculture. That saw his property tax bill in 2013 drop to about $1,400 from the previous year’s $156,800.

Read full article @ Times Colonist