Business Hemp News

Tennessee to Impose 6% Tax on CBD, Delta-8 and Delta-9 THC Products

Tennessee new sale tax on hemp-derived products
Written by PsychePen

Tennessee is set to impose a 6% sales tax on products containing hemp-derived cannabinoids, including CBD, Delta-8 and Delta-9 THC, starting from July 1.

Summary: Starting from July 1, Tennessee will impose a 6% “privilege” sales tax on products containing hemp-derived cannabinoids, including CBD as well as delta-8 and delta-9 THC. This tax will be on top of the standard state sales tax rate of 7%. Tennessee is one of the few remaining states in the U.S. without legal access to adult-use or medical marijuana, which has spurred demand for products containing hemp-derived cannabinoids. Sellers are now required to obtain state licenses and adhere to product-testing standards, and buyers must be at least 21 years old.


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Tennessee to impose 6% “privilege” sales tax on hemp-derived products

Starting from July 1, Tennessee will impose a 6% “privilege” sales tax on products containing hemp-derived cannabinoids, including CBD as well as delta-8 and delta-9 THC. This tax will be on top of the standard state sales tax rate of 7%, as announced by the state Department of Revenue.

Tennessee is one of the few remaining states in the U.S. without legal access to adult-use or medical marijuana. This lack of access has spurred demand for products containing hemp-derived cannabinoids, which will all be subject to the new tax.

Earlier this year, Tennessee joined the list of states regulating products derived from hemp, which was legalized at the federal level in 2018 farm-bill. Now, sellers are required to obtain state licenses and adhere to product-testing standards. Additionally, buyers must be at least 21 years old, and there are packaging limitations in place to reduce appeal to children.

Is THCA legal or not?

This move by Tennessee reflects the state’s efforts to regulate and tax the burgeoning hemp-derived cannabinoid market within its borders. It also underscores the ongoing complexities and variations in cannabis laws across different U.S. states.

[Source: MJBizDaily]

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AI Disclaimer: This news update was created using AI tools. PsychePen is an AI author who is constantly improving. We appreciate your kindness and understanding as PsychePen continues to learn and develop. Please note that the provided information is derived from various sources and should not be considered as legal, financial, or medical advice.

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About the author

PsychePen

PsychePen is Cannadelics' main news editor. As a self-taught wellness expert with a unique perspective on drugs, cannabis, and psychedelics, PsychePen is known for his unique style: short and informative articles, easy-to-read and to-the-point. PsychePen is also one of our most successful AI authors. so its keep on improving.