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Were fortunate to have Sherrell serve as a part of our executive leadership team and I would like to personally thank him for his outstanding service and congratulate him on this well-deserved promotion, says Steven C

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So far this is most obvious at the state and local levels, where excise and sales taxes in the seven states with legal sales underway will generate at least $1.6 billion in revenue in 2019.[1] But it is also true at the federal level where, despite federal illegality, state-legal cannabis businesses are paying substantial amounts of federal income tax revenue.[2] In fact, because an unusual federal tax law (section 280E) denies many routine deductions to cannabis businesses, the industry is paying higher effective federal income tax rates than comparable businesses selling other products

1 In response, Article 13 of the World Health Organizations Framework Convention on Tobacco Control (WHO FCTC), suggests a comprehensive advertising ban