The partnership with CCF represents Acreage’s first deal in New Jersey. Typical tax deductions taken by most businesses are usually off limits to cannabis companies.Īcreage has also struck an agreement with Optimus Partners, one of New Jersey’s most well known political consultants to lobby state officials. Some cannabis companies face tax rates of close to 70 percent.
Currently, cannabis is a Schedule I narcotic, considered to have no medicinal benefit and to be just as dangerous as heroin and LSD in the eyes of federal officials.īoehner and Weld are also pushing for lower tax rates for cannabis businesses.
Boehner and Weld are putting pressure on federal authorities to reschedule cannabis. Hiring John Boehner and former Massachusetts Governor Bill Weld may go a long way toward accomplishing their goal. Kevin Murphy, CEO of Acreage, is looking to drive down the price of cannabis and feels that some patients struggle to afford their medication.Īcreage formed in 2011 as High Street Capital Partners and has been pushing hard to achieve a national profile.
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