Cannabis businesses can pay up to 80% in taxes. Could easing federal restrictions provide relief?

Struggling to Thrive: How Federal Tax Code Penalizes Legal Cannabis Businesses.

The changes could help smaller independent businesses that are struggling to stay afloat

A few years ago, Payton Shubrick left her job in financial services to break into the cannabis industry. She saw it as an opportunity to profit in a brand-new market and reclaim power over a drug whose enforcement had long devastated communities of color, including in her hometown of Springfield.

What Shubrick scarcely accounted for was the taxes.

She now pays multiple business owners at her family-run dispensary, 6 Brick’s, because of a part of the United States tax code that applies to illicit businesses, including those selling marijuana. It poses a stunning obstacle, she said, to eking out profits, expanding operations, or raising wages.

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