- Tennessee has enacted a new 6% sales and use tax on products containing hemp-derived cannabinoids sold at retail.
- The tax applies in addition to the standard state sales and use tax and local option sales tax.
- The tax does not apply to hemp-derived fiber, grain, or topical products.
- Hemp-derived cannabinoid refers to cannabinoids derived from hemp with a concentration of more than 0.1%, or hemp-derived products containing delta-9 THC with a concentration of 0.3% or less on a dry weight basis.
- The tax must be reported and paid monthly on the Tennessee Sales and Use Tax Return, with the deadline being the 20th of each month.
Source: salestaxinstitute.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
