Do hemp farms, middle men, and retail from seed to sale get tax breaks and incentives for having a business in the US or do they get the same cash only treatment as the Cannabis industry?
This is all I could find for this exact question, and it keeps referring to the Marijuana business and not Hemp specifically, and it is 4 years old. https://www.thetaxadviser.com/issues/2019/dec/legal-hemp-deductible-expenses.html
TY.
Are all clones considered as being hemp? I am asking becasue i see the 2023 farm bill is increasing the definition of hemp from .03% THC to .1%.
Will that cover any clone, even if it can produce higher THC later in its life cycle?
That increase to .1% is probably to keep existing industrial hemp farmers legal. It’s not going to have an effect on federal marijuana law. Federally-legal hemp farmers have to report their locations so that their crops can be later checked to make sure they’re not actually federally-illegal marijuana.