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President Trump Wants To Replace Income Tax With Tariffs, National Economic Council Director Kevin Hassett Says
Friday, March 7, 2025 - 5:39pm | 485White House National Economic Council Director Kevin Hassett appeared on Bloomberg Television Friday and said that President Donald Trump wants to replace income tax revenue with tariff revenue. “The President believes if we can replace income tax revenue with tariff revenue, we can...
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States Without Legal Cannabis Are Missing Out On Billions In Annual Tax Revenue, New Analysis Shows
Monday, December 9, 2024 - 5:37pm | 1167Since Colorado and Washington took the historic step of legalizing recreational cannabis in 2014, the marijuana industry has rapidly expanded, with tax revenue emerging as one of the most significant financial outcomes. The growing legal cannabis market across the U.S. has generated billions of...
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2024 Cannabis Taxes: States Weigh In On New Approaches To Revenue
Wednesday, October 9, 2024 - 1:54pm | 722U.S. states have adopted different tax structures in their respective recreational cannabis markets, each with its pros and cons. Insights from a recently published article by the Tax Foundation show that ad valorem taxes, which are based on the sales price of cannabis, are still the simplest to...
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Cannabis Taxes: Weight, Potency Or Price? Impact On Businesses, Patients And Consumers
Thursday, June 6, 2024 - 12:35pm | 790Cannabis companies are bracing for a cash flow boost. President Biden's decision to reschedule cannabis could free up over a billion dollars in tax breaks thanks to the elimination of the burdensome IRS code 280E. This tax code currently prevents cannabis businesses from deducting normal...
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US Losing $8.5B In Cannabis Taxes Due To Lack Of Federal Legalization, New Taxation 'Blueprint'
Monday, December 18, 2023 - 9:57am | 510When it comes to taxation of cannabis products, things are rather complex. Marijuana is still considered a Schedule 1 substance under federal law, and just 24 states have their own legal recreational markets. The result is a wide variety of tax regulations. What would happen with taxes in case of...
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How Should The US Tax Cannabis And Approach Tax Reform? Expert Gives 3 Approaches
Monday, June 14, 2021 - 1:21pm | 512Ulrik Boesen, a Senior Policy Analyst at the Tax Foundation, recently joined Bank of America for an investor call about U.S. cannabis tax policy. Boesen said tax policies toward cannabis in the U.S. today need a lot of improvement, but regulators also have to be careful to avoid negative...
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Sugar And Spite: Big Cities Taxes On Beverages Irking Big Soda
Thursday, August 24, 2017 - 1:17pm | 726How sweet it isn’t to be hated by you. Chicago, Philadelphia and, soon, Seattle and San Francisco are just a few of the cities taxing soda pop as both a health threat and source of revenue, and the beverage industry says the cash municipalities are making on non-carbonated quaffs is costing...
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Are U.S. Corporate Taxes Really That High?
Monday, November 7, 2016 - 9:23am | 370This election season, companies like Microsoft Corporation (NASDAQ: MSFT), General Electric Company (NYSE: GE) and Apple Inc. (NASDAQ: AAPL) have been criticized by both candidates for the massive cash hoards the companies have stashed overseas to avoid U.S. taxes. The companies claim U.S....