Here is a scare article published last week in Portland’s Willamette Week. I like that publication pretty well, but the article makes a trio of tax-related assertions which strike me as wrong. In the author’s defense, suspect cannabis tax reportage is an industry pastime and the narrative of fiscally oppressed cannabis stores is attractive. Consider too that the author appears to have been misled by an economist. Still, we aren’t giving anyone a pass on this blog.
Before I get going on this, I’d like to say that if you’re a business owner or a tax or business lawyer or a CPA with contrary views, I would love to hear from you. For those readers and everyone else, here is a summary of the offending article:
Biden’s proposed corporate tax hike carries major, negative implications for cannabis businesses in Oregon (but really everywhere). This is mostly wrong. Oregon “could soon tax its weed shops out of business.” This is egregiously wrong. Because of all these taxes, the Oregon retail cannabis landscape may become an oligopoly where “the large corporations buy up the small businesses at a discount and drive small businesses out of the industry.” Heavy consolidation may well