Missouri cannabis operators lost an opportunity for a state-level tax offset for federal 280E tax expenses last week after the Republican-dominated state legislature declined to take up a possible veto override.
Earlier this spring the Missouri General Assembly passed a bundle of tax exemptions, including one for 280E expenses, through SB226. It was then vetoed by Gov. Michael Parson, who detailed his opposition to the bill in his veto letter, but made no mention of the cannabis tax provisions.
The state legislature, convened for a special session last week, did not take the opportunity to take up the measure for a veto override.
Leaders of the state’s cannabis trade association, MoCannTrade, remain optimistic the measure will ultimately become law.“This measure had nearly unanimous support in the legislature, but unfortunately became legislative collateral damage because of a completely unrelated provision. We expect this tax fairness legislation will be back in front of lawmakers starting in January and are optimistic of its passage,” MoCannTrade spokesman Jack Cardetti told Grown In.