Connecticut And Illinois Governors Support Cannabis Industry With Tax Relief Measures, Here's How
Portfolio Pulse from Joana Scopel
Connecticut and Illinois have enacted tax relief measures for licensed marijuana businesses through their budget legislation. The relief aims to address the financial burdens faced by these companies due to their inability to make federal deductions under IRS Code 280E. The relief is expected to provide $4.7 million in industry relief in 2024, increasing to $6.2 million in 2025.
June 14, 2023 | 7:38 pm
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Connecticut and Illinois' tax relief measures for licensed marijuana businesses may benefit Columbia Care Inc. by easing financial burdens and creating a more favorable business environment.
The tax relief measures enacted in Connecticut and Illinois aim to address the financial burdens faced by licensed marijuana businesses, including Columbia Care Inc. These measures may create a more favorable business environment for the company, potentially leading to increased revenues and growth. As a result, the stock price of CCHWF may experience a positive short-term impact.
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