Tennessee down $54M in hemp tax revenue after THC ban

Tennessee down $54M in hemp tax revenue after THC ban

Tighter restrictions on THC products have cost Tennessee more than $54 million dollars in tax revenue. The state has only collected 3% of what it had anticipated from a new hemp tax. Last year, state lawmakers approved both the new tax and a ban on THCA, a type of THC that was legalized nationwide in 2018 through a loophole in the Farm Bill. That meant an end to the hemp industry’s most profitable products, like smokable flower and full-spectrum…

Connecticut cannabis sales flat, but state collected more taxes. What happened?

Connecticut's cannabis tax revenue jumped 67% while sales stayed nearly flat. The state's THC potency tax, which ends Oct. 1, drove the gap. Connecticut cannabis sales flat, but…