Trulieve CEO: Federal Rescheduling Could Change Heavy Tax Burden For Cannabis Industry
Portfolio Pulse from Joana Scopel
Kim Rivers, CEO of Trulieve Cannabis Corp (OTCQX:TCNNF), expressed optimism about the potential federal rescheduling of cannabis, which would remove it from the federal prohibited list. This change would significantly impact the cannabis industry, particularly in terms of tax implications. Trulieve has paid over $220 million in 280E-related taxes in the last 24 months. The rescheduling could provide relief from this burden, enabling further investment in growth opportunities. Rivers also emphasized the need for Congress to push forward with the SAFE Banking Act.
September 06, 2023 | 8:27 pm
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The potential federal rescheduling of cannabis could significantly reduce Trulieve's tax burden, enabling further investment in growth opportunities.
The potential federal rescheduling of cannabis would remove it from the federal prohibited list, reducing the heavy tax burden on cannabis companies like Trulieve. This could free up significant resources for Trulieve to invest in growth opportunities, potentially boosting its stock price.
CONFIDENCE 75
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RELEVANCE 100