Hemp, Inc. (HEMP) Strategically Positioned to Capitalize on Growing Movement to Legalize Industrial Hemp Production
Production of industrial hemp, though currently illegal throughout much of the country, is ingrained into the very fabric of the United States. George Washington was a noted proponent for hemp production, and farmers were even permitted to pay their federal taxes with the vital crop for more than 200 years. By 1850, there were more than 8,300 hemp farms across the nation. However, additional taxes imposed by the Marihuana Tax Act of 1937 made hemp production too expensive to compete with international operations. If that didn’t damage the country’s industrial hemp market enough, a bit of mistaken identity with its…
