On behalf of The Cannabis Alliance and the National Cannabis Industry Association (NCIA) we ask for your help with a very important study.
Greg Robinson, an Economist at University of Utah, and an Economist/Law Professor at the U. of Michigan are currently working on a survey of the legal cannabis industries in Colorado, Oregon and Washington targeted mostly towards issues related to taxation, specifically effects of IRS section 280E and banking. They’re also looking at things like capital structure, cost of capital, and risk preferences of entrepreneurs in the cannabis industry. Their current website is here: http://Eccles.link/Bert
The hope is that the results – if published in some top econ/finance/policy/accounting journals – will help shed a light on the tax disparity caused by 280E, and all of the money it’s costing:
- States in the form of tax transfers to the federal government.
- Business owners in the form of lower profits due to the arbitrarily high tax rates
- and customers, due to higher prices as a result of the former.
Additionally they hope to evaluate the difficulties related to banking. Their thinking is that by being able to quantify these things in an unbiased, academic way, it can go a long way towards an eventual policy change.
The project is mostly finished up in Colorado, and they are about to start on the Oregon and Washington portions of their survey. We need your help! The survey takes about 45 minutes, and asks for a fair amount of fairly sensitive financial data – revenues, expenses, taxes, etc. They are taking data security and business confidentiality incredibly seriously – no individual businesses or person is ever identified, and they’ll only report aggregated results and statistics. To learn more about the security protection, please go here.
If you know anything about 280E, you understand the extreme burden it creates on the cannabis industry....and research is vital, so we are asking for your help by taking the survey.
As an additional incentive they are offering all recreational and medical dispensaries, grows, and infused products manufacturers in the state $50 to take the survey. Ideally someone familiar with the financials of the business will complete it – owner, general manager, or accountant.
Again, the survey can be accessed from the website: http://Eccles.link/Bert.
If you have any questions about this effort please feel free to contact Greg Robinson directly at: Greg.Robinson@Eccles.utah.edu