The new tax plan works for the cannabis industry

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Yesterday, the House and Senate GOP agreed on a tax plan. To b.Blunt:

  • Corporate tax rate slashed from 35 percent to 20 percent
  • Personal income tax rate cut from 39.6 percent to 37 percent
  • No individual mandate for healthcare
  • Families can deduct up to a total of $10,000 in local property and state and local income taxes (SALT)

Why is this great for cannabis industry?

  • States with budget challenges will likely look increasingly to marijuana legalization
  • Stocks are set to explode: look at Scotts Miracle-Gro and Aphria
  • States with the highest income taxes will most likely look at legalizing marijuana

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