Executives Re-Enact Boston Tea Party To Protest Cannabis Tax Rule

In the early hours of January 10, 2021, a group of executives and business owners in the cannabis industry gathered in Boston, Massachusetts to re-enact the famous Boston Tea Party of 1773. The event was organized to protest a new federal tax rule that would impose a 280% tax on the sale of cannabis products.

The rule, which was proposed by the Internal Revenue Service (IRS) in December 2020, would require cannabis businesses to pay a 280% tax on certain products, including flower, edibles, and concentrates. This is in addition to the existing federal taxes imposed on the sale of cannabis products. The tax rule would be a significant financial burden on cannabis businesses, and many industry leaders believe it could put them out of business.

The re-enactment of the Boston Tea Party was organized to draw attention to the issue and to protest the proposed rule. The event was attended by several prominent figures in the cannabis industry, including former Massachusetts Governor Deval Patrick, former Congressman Barney Frank, and cannabis business owner and activist Shaleen Title.

The group of executives and business owners gathered at the Boston Tea Party Museum, where they re-enacted the famous event by throwing tea into the harbor. They were joined by a group of protesters carrying signs that read “No Taxation Without Representation” and “Stop the 280% Tax.”

The event was also livestreamed on social media, allowing people all over the world to join in the protest. The message was clear: the proposed tax rule is unacceptable and must be stopped.

The proposed tax rule is just one of the many challenges that cannabis businesses face. In addition to the existing federal taxes, many states impose additional taxes on the sale of cannabis products. The industry also faces stiff competition from the illegal market, which is not subject to the same taxes and regulations.

Data science and data engineering can help cannabis businesses stay competitive in the face of these challenges. Data science can be used to analyze customer data and identify trends in the market. This information can be used to develop strategies for marketing and pricing that will help cannabis businesses stay competitive.

Data engineering can also be used to develop systems that will help cannabis businesses manage their inventory and track customer orders. This can help businesses reduce costs and improve efficiency.

The cannabis industry is facing significant challenges, and data science and data engineering can help businesses navigate these challenges. The proposed federal tax rule is just one of these challenges, and the Boston Tea Party re-enactment is a powerful reminder that the industry is united in its opposition to this rule. By leveraging data science and data engineering, cannabis businesses can stay competitive and continue to provide their customers with quality products and services.