fubo@lemmy.world 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.
- However, industrial hemp is not a cash-only business like state-legalized marijuana, as it is federally legal.
snausagesinablanket@lemmy.world 8 months ago
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?
fubo@lemmy.world 8 months ago
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.