Hemp taxes in limbo as industry braces for massive sales drop-off in July

By: Adam Friedman

Outlets: Tennessee Lookout

Published: April 7, 2026

Words: 391

Last Updated: 2 months, 2 weeks ago

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Tennessee officials budgeted more than $185 million in hemp tax revenue over two years, but lawmakers made the industry’s most popular product illegal, throwing those projections in doubt.

Budget officials have already reduced this year’s hemp wholesale tax projections from more than $55 million to less than $10 million. But Tennessee’s Department of Finance and Administration remains optimistic that the state can collect $130 million in taxes for fiscal year 2027, when the …

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