MariMed Hosts The 'Boston 280E THC Party' To Protest Unfair Tax Laws Impeding The Cannabis Industry
Portfolio Pulse from Vuk Zdinjak
MariMed (OTCQX:MRMD), a Massachusetts-based cannabis company, is hosting the 'Boston 280E THC Party' to protest against Section 280E of the Internal Revenue Code, which prevents cannabis companies from deducting customary business expenses. This results in higher prices for consumers as companies are taxed on their gross profits. The protest will take place on July 12 aboard the Liberty Star schooner at Boston's Central Wharf.
July 11, 2023 | 1:53 pm
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NEUTRAL IMPACT
MariMed's protest against Section 280E could draw attention to the financial challenges faced by the cannabis industry due to current tax laws. This could potentially influence changes in legislation, benefiting MariMed and the wider industry.
MariMed's protest is directly aimed at challenging a tax law that impacts their business operations. While the protest itself may not have an immediate impact on the company's stock price, it could potentially influence public opinion and legislative changes in the long term, which could benefit MariMed and the wider cannabis industry.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100