#12 Payments Unmasked

Author

Shakun Sethi
May 29, 2024

Hi there,
Welcome back to the TickleCharge CBD special edition newsletter!

Updates in Cannabis: Reclassifying Cannabis Could Save Businesses Millions in Taxes

Possibility of Tax Reduction, Baby!

The US Drug Enforcement Administration is moving to sign off on an opinion from the Health Department to reclassify cannabis from Schedule I, where it currently sits alongside heroin and peyote -- to the less strict Schedule III, bringing it into the family of ketamine and certain steroids.

  • Schedule I classification is designated to drugs deemed most easily abused with no medical value

  • Schedule III drugs are recognized for having medical use but also have the potential for abuse and require a doctor's prescription.

With this reclassification, the Cannabis business would no longer face the provision of the tax code known as Section 280E, a major tax burden faced in the industry. It prevents any businesses working with controlled substances from reaping tax credits or deductions.

Industry leaders are predicting that it could save cannabis businesses millions in excessive taxes

Love from our Merchants

The guys from TickleCharge have been amazing and extremely helpful. They guided us throughout the whole process and had patience with us when a problem presented itself. I would recommend them if you need a high-risk business

Infinitum Fortuna (https://mylegalize.com/)- Our CBD Merchant

Refer & Earn: TickleCharge Initiative

If you know someone looking for payment processing, become our representative. Your reference can make you a solid 25% month-on-month revenue share from our residuals.

It is time to grow together.

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CBD and Hemp Products High-Risk Processing

The CBD and hemp industry has experienced unprecedented growth, driven by increasing consumer demand for natural wellness products.

However, it encounters significant challenges when it comes to payment processing.

Read the full blog!

High-Risk E-commerce Payment Processing

In the dynamic world of e-commerce, businesses operating in high-risk industries face unique challenges when it comes to payment processing.

Navigating the high-risk landscape requires a strategic approach and specialized solutions.

Read the full blog!

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