Missouri Hemp Businesses Ask Governor To Veto Bill That Would ‘Eliminate’ The Industry
Key Takeaway
“It would effectively eliminate an entire industry in Missouri—the hemp industry—regardless of any federal change in legislation.” By Rebecca Rivas, Missouri Independenta Gov. Mike Kehoe’s (R) office received 10,000 handwritten letters Tuesday asking him to veto a Missouri bill that would impose a statewide ban on intoxicating hemp products. The letters, gathered in just 10 […] The post Missouri Hemp Businesses Ask Governor To Veto Bill That Would ‘Eliminate’ The Industry appeared first on Marijuana Moment.
What This Means for Cannabis Businesses
Tax developments like this directly impact the bottom line for every cannabis operator. With Section 280E creating effective tax rates above 70% for many businesses, any shift in federal tax policy - whether through rescheduling, court rulings, or IRS guidance - can mean the difference between profitability and closure. Cannabis business owners should work closely with a specialized CPA to understand how these changes affect their specific situation.
Missouri Cannabis Market Overview
Missouri legalized recreational cannabis in 2022 and has seen strong early sales growth. The state has approximately 400 active cannabis licenses and 10 licensed testing laboratories. There are 48 cannabis professionals serving Missouri businesses on our directory, including CPAs, attorneys, and compliance consultants.
Related News
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Congressional Research Service Questions Constitutionality of Cannabis Tax Section 280E
This analysis is based on reporting by Marijuana Moment. Read the original article. CannaBizGuide provides original commentary and analysis - this is not legal or tax advice.