After several years of high taxes and battles to keep many hemp products legal in Tennessee, the state’s new law that more heavily regulates the sale and taxes of several THCA products has led to a loss of more than $50 million in tax revenue.
Three years ago, on July 1, 2023, Tennessee implemented a 6% sales tax on hemp products sold in the state. The hemp tax was on top of Tennessee’s already steep 7% sales tax. Then a new law was enacted that changed regulations and taxes on hemp.
