Connecticut Lawmakers Pass Marijuana Tax Relief And Regulation Bills, Gov Lamont's Approval Expected
Portfolio Pulse from Joana Scopel
Connecticut lawmakers have passed two bills aimed at providing tax relief and regulation for the state's marijuana industry. The first bill allows licensed cannabis businesses to deduct expenses that would be eligible for federal income tax deductions. The second bill introduces off-site event permits for marijuana retailers, regulations on intoxicating hemp-derived products, and the establishment of the Office of the Cannabis Ombudsman.
June 08, 2023 | 8:35 pm
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Connecticut's new tax relief and regulation bills for the marijuana industry may benefit Columbia Care Inc. (OTCQX:CCHWF) by allowing deductions for eligible expenses and introducing new regulations.
The tax relief bill allows licensed cannabis businesses to deduct expenses that would be eligible for federal income tax deductions, which could benefit Columbia Care Inc. by reducing their tax burden. The regulation bill introduces new regulations that may create a more equitable and sustainable market for licensed marijuana businesses, potentially benefiting Columbia Care Inc. as a player in the industry.
CONFIDENCE 80
IMPORTANCE 60
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