Hemp was once grown in the US without much government interference – in fact, farmers were encouraged to grow hemp during the Revolutionary War as the plant was used in the making of sails and rigging.
Again, during World War II, the “Hemp for Victory” campaign was launched by the government for the war effort. Then, with its connection to marijuana, hemp became taboo. And we forgot all about the many benefits and uses of hemp.
There still seems to be a lot of confusion when it comes to hemp and marijuana. The plants have a similar leaf shape and are both from the Cannabis family. But here the similarities end.
The good news: hemp is once again being recognized for its many benefits, with Hawaii being the first state to issue licenses for the cultivation of this miracle crop. Even more important is the positive impact hemp can have on the environment. Almost the entire hemp plant can be used to make products, which makes it zero-waste.
Now, licensed cannabis businesses can also write off expenses related to the cost of goods sold. In the tax world, “Cost of Goods Sold” means any expense directly related to buying and storing the products you sell. This means the cost of buying/growing weed, most inventory costs, shipping costs, etc. Learn More
Hemp is on its way to becoming one of the most sustainable crops in the world. Its many uses help to promote this sustainability – we’ll be able to rely less on petroleum and fossil fuel products as they’re replaced with hemp-based products.
Here’s an in depth look at hemp including its history, benefits, and why the environment is going to thank us for using this plant to protect the planet.