Tennessee Regulates, Taxes Certain Cannabinoid Products

The Tennessee Governor signed a law to regulate the sale and distribution of hemp-derived cannabinoid products (HDCP). The law includes: 1) imposing a tax upon the sale of HDCP at wholesale in the amount of $0.02 per milligram of hemp-derived cannabinoid in each HDCP based on the most recent HDCP lab test results provided to the wholesaler by the supplier, except in the case of HDCP in the form of hemp plant parts or hemp flower, in which case the tax is $50.00 per ounce of weight; 2) imposing a tax upon the sale of HDCPs at wholesale in liquid ...