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Channeling the Boston Tea Party’s rebellious spirit while dressed in traditional colonial garb, MariMed (OTCQX:MRMD) (CSE:MRMD) executives and team members staged the ‘Boston 280E THC Party’ from a boat in Boston Harbor on July 12. In reenacting 1773’s “No taxation without representation” revolt, yesterday’s event protested Section 280E of the Internal Revenue Service Code. MariMed surprised the crowds at Boston Harbor when they boarded the Liberty Star schooner, heaved cargo chests emblazoned with “WEED” overboard and chanted anti-280E slogans.
“250 years ago, a group of colonists held the most famous tax protest in our nation’s history – the Boston Tea Party. We’re paying homage to our patriot ancestors by protesting Section 280E, an unfair tax that burdens the cannabis industry. Because of 280E, cannabis companies pay much higher taxes than they would otherwise, which hurts their profitability and ultimately results in higher prices at registers for consumers,” MariMed CEO and president Jon Levine told Benzinga.
A growing number of U.S. Congressmen and women are aligned with MariMed’s take on 280E: “State-legal cannabis businesses are denied equal treatment under 280E,” Congressman Earl Blumenauer (D-OR) said earlier this year, referencing it as “grotesquely unfair treatment” and urging his colleagues to “allow legal cannabis operations to deduct business expenses, just like any other industry.”
Photo: Benzinga edit with photo by MariMed
The natural wood, sustainable boxes tossed into the Boston Harbor were empty, floated on the surface, and pulled immediately from the harbor.
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