Tax Law Insights

With the adoption by Congress of the 2018 Farm Bill, which decriminalized the cultivation and growing of industrial hemp and related products, states now, including South Carolina, have adopted and expanded programs authorizing the growing of industrial hemp and also the processing of products from the plant, most notably CBD oil.

The South Carolina Hemp Farming Act, adopted in March 2019, authorizes state residents to apply with the SC Department of Agriculture (SCDA) to grow and/or process industrial hemp in the state; however, under the present status of the law, only ...