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10.04.2021 12:45:00

The Story of COVID-19, Tax Revenue, and the Green Wave

For American multistate operators like Curaleaf Holdings (OTC: CURLF) and Green Thumb Industries (OTC: GTBIF), the illegal status of cannabis at the federal level poses severe restrictions on how they run their businesses. These companies have found ways to succeed despite federal law, however, such as vertically integrating operations in specific states that have legalized recreational or medical uses of marijuana. Now that 16 states and D.C. have legalized adult-use marijuana and over 30 have permitted it for medical use, it's become difficult for other states to bypass the massive potential tax revenue that could come from licit sales. This is especially true in the wake of the COVID-19 pandemic, which required immense amounts of state spending and earned many states less tax revenue than in years prior; state tax collections were down 5.5% in fiscal year 2020.Dr. Chanda Macias is a medical cannabis advocate, researcher, and dispensary owner. She joined Corinne Cardina and Olivia Zitkus on a March 19 episode of Fool Live to talk about what taxing marijuana could (and should) look like in the future.Continue reading
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