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April 1, 2022

Jason Klimek Quoted in NY Cannabis Insider Article About the NYS Cannabis Potency Tax and IRS Code Section 280E

Jason Klimek, Cannabis Team co-leader, was quoted in the NY Cannabis Insider article “Getting Into the Weeds of the Potency Tax and 280E,” which explores two controversial tax issues that have concerned cannabis advocates and businesspeople. 

New York State’s cannabis tax structure plans to tax marijuana based on THC content. Jason said, “I think that the THC potency tax has all negatives—I think it has no redeeming qualities.” This tax structure could, in turn, drive New York State’s marijuana prices higher than in other states, he said. If the price of adult-use marijuana soars, Jason said that regulators may also struggle with people trying to game the system.

Click here to read the full article. 

This article was also picked up by Syracuse.com (subscription required) and Ganjapreneur.

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