fubo , 8 months ago

This question is actually two different questions mixed together:

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?

To answer these two questions separately:

• There are not special tax incentives to promote growing industrial hemp. However, hemp growers can receive federal crop insurance, loans, and environmental incentives that apply to all agricultural producers.
• Industrial hemp (including CBD) is not a cash-only business like state-legalized marijuana, as it is federally legal, and banks can do business with hemp farmers without running afoul of drug money laundering laws.

There are some special federal requirements for hemp growers; they have to get a permit, file reports of where they’re growing, and identify the intended legal use of the hemp crop.