How to Start a Cannabis Business: Island of Opportunities in Puerto Rico

How to Start a Cannabis Business: Island of Opportunities in Puerto Rico

Puerto Rico is a U.S. territory and Puerto Ricans are American citizens but don’t have congressional representation and do not vote in federal elections. And since there can be no taxation without representation, Puerto Rico does not pay U.S. Federal taxes​.

This strategy isn’t new: Boeing’s HQ was lured from WA to IL with the promise of zero state taxes (which is probably partly why Illinois had legalize cannabis), Google’s European headquarters is in Ireland. The “double Irish with a Dutch sandwich”- a tax avoidance technique employed by certain large corporations.

Puerto Rico previously offered incentives to the pharmaceutical, biotech and medical device industry, which has left a number of GMP (Good Manufacturing Process) facilities available on the island.

Puerto Rico tax benefits for crypto should be on your radar as well as Act 60’s “The Individual Investors Act.” The gains in both your stock & crypto portfolios are considered Puerto Rican sourced income and taxed at a 0% capital gains rate.

Act 60 states that individuals and businesses will pay zero capital gains taxes on assets acquired AFTER moving to Puerto Rico.

This makes Puerto Rico the only place in the world where US citizens can avoid paying overburdening U.S. federal income taxes.

L1 – L8 “How to Start a Cannabis Business” Playlist:

Host:
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
https://www.linkedin.com/in/joshkincaid/

Episode 951 The #TalkingHedge…
Your Cannabis Business Podcast.
​Covering cannabis products, reviews, business news, interviews, investments, events, and more.
https://www.theTalkingHedgepodcast.com

Music Info:
Song: Beat | Keep On | 2020
Artist: Milochromatic Beats
&
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018
Artist: LuxrayBeats

Keywords:
Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Industry News, Weed News 420, Talking Hedge Podcast, Cannabis Podcast, Marijuana Podcast, Business Podcast, CBD podcast, THC podcast, Cannabis Pitch Deck, Marijuana Pitch Deck, Marijuana Investment Deck, Cannabis Investment Deck, Cannabis Compliance, Cannabis Data, Cannabis Banking, Cannabis Investment, Pot Stocks, Cannabis Stocks, Weed Stocks, Marijuana Stocks, Cannabis Data, Marijuana Data, Cannabis Analytics, Marijuana Analytics, Cannabis Sales Data, Marijuana Sales Data

This is not tax advice. Josh is not an investment nor tax adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers. This is only entertainment.