Sarah Westby quoted in Hartford Business Journal article 'Effective tax rate on cannabis companies ‘can be fatal’; proposed bill would offer relief'

Sarah Westby was recently quoted in two Hartford Business Journal's articles:

"Effective Tax Rate on Cannabis Companies 'Can be Fatal'; Proposed Bill Would Offer Relief"
Cannabis retailers’ effective tax rate can be as high as 80% — largely because marijuana companies are unable to deduct their business expenses — such as rent and employee salaries — from their state and federal taxes due to cannabis still being illegal at the federal level. “Their taxable revenue is much higher than it would be if they were able to deduct these expenses,” Sarah said. “And so they end up paying an effective tax rate of up to 70%, or even 80%, which can be fatal to many businesses.”

"Cannabis Companies Under 'Magnifying Glass' as State hires Industry Auditors" 
According to the article, the state Department of Revenue Services is working to ensure compliance and
reduce the tax gap – the difference between taxes owed and the amount that is paid on time ... According to Sarah: "“Just to deal with that administrative burden of calculating out those taxes for the consumer and then finding a way to incorporate that automatically into your point-of-sale system was certainly a challenge for retailers”. 

Read both articles here.