The Department of Revenue is inviting the public to a comprehensive webinar on the taxation of hemp-based cannabinoids scheduled for February 27 at 9 am Central time. This educational session is designed to shed light on the new tax regulations surrounding hemp-derived cannabinoids, an area of growing interest and importance in the state’s economic landscape.
During the webinar, participants will receive detailed information on several critical aspects of the hemp-derived cannabinoid tax. The session aims to cover the basics of the tax’s definition, identify what products are taxable, and guide attendees through the processes of reporting and filing the tax. Additionally, the webinar will address potential compliance issues, offering solutions and best practices to ensure participants are well-prepared to navigate this complex tax landscape.
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This webinar is a part of the Department of Revenue’s ongoing efforts to provide valuable resources to the public through its free monthly webinar series. The initiative reflects the department’s commitment to transparency and education in matters of state taxation and revenue collection.
The Department of Revenue plays a pivotal role in the administration of state tax laws, along with overseeing motor vehicle title and registration laws. It is instrumental in collecting a significant portion of state revenue, with figures from the 2023 fiscal year highlighting the collection of $22 billion in state taxes and fees, in addition to over $4.6 billion for local governments.
Interested individuals are encouraged to register for the webinar to gain insights into the taxation of hemp-based cannabinoids and to explore the broader services and resources offered by the Department of Revenue. For more information and to register for the upcoming webinar, visit the Department of Revenue’s official website.
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