The medical marijuana movement in Colorado has been a huge success story in terms of reaching out to consumers and connecting them to the industry.
But the industry still faces an uncertain future and the federal government is threatening to take away the industry’s access to tax credits.
The new federal law, passed last week, puts an end to those tax breaks, leaving consumers facing a lot of uncertainty as to what the future holds.
Here are the key points about the tax credits and the looming tax bill:The tax credits will end on January 31st, 2018.
If you buy a medical marijuana product from a dispensary, you’ll be able to claim the tax credit for two years.
But if you buy marijuana from a marijuana producer, you have to wait a year to claim it.
If your marijuana supplier has been approved by the state for tax credits, the marijuana you buy from them is considered an industrial product.
This means that you’ll have to pay sales taxes, excise taxes, and other federal taxes on it.
That’s bad news for the marijuana industry.
It’s not uncommon for small producers to have to take on significant losses as the federal tax credit kicks in.
The state and federal governments don’t want that, and so the state and local governments have to step in.
That could mean a lot to smaller growers who could be left with very little cash to pay their taxes.
The tax credits are a huge boon to the state coffers.
States that are trying to get their marijuana economy going should look to the Colorado tax credits as an example.
The state of Colorado has taken a big hit from the federal crackdown on cannabis.
The federal government says it won’t grant tax credits to businesses that are not complying with federal laws, and there have been reports of marijuana growers losing millions of dollars in tax credits over the last few years.
That’s a big blow to Colorado, which was already struggling with its budget woes and a stagnant economy.
If marijuana businesses are left without the tax breaks and the government takes away the tax-credit exemption, it could mean the end of the Colorado marijuana industry as we know it.
It’s been over three years since the federal marijuana crackdown, and now we’re heading into a new era of government shutdown.
We can expect a lot more of the same if the federal bill goes through.