BUSINESS News:
Wheeed! LLC invites anyone age 21+ to its 3rd birthday party, 9 a.m. to 6 p.m. Sunday, April 20 at 555 Oppenheimer Dr. Suite 100.
Attendees will enjoy birthday presents, pizza, pastries and coffee and huge discounts and giveaways.
“As our birthday approaches we take this time to reflect on the year that has been. We share this info because these numbers are publicly available, and we would like to provide some context, but we are also really proud of what we do,” Owner Jonathan LeDuc. Wheeed! had another tremendous year in 2024! We snailed it! Wheeed sold $1,007,004 in Cannabis with $240,864 in Discounts and collecting $103,970 in Gross Receipts Tax and Excise Taxes. This amounted to $230,597 in Medical Sales after discounts and $536,012 in Recreational Sales after discounts.”
LeDuc added that Wheeed! paid $189,550 in wages in 2024 and $16,258 in payroll taxes.
“We work hard to pay living wages based upon the cost of living in Los Alamos,” he said. “As of the end of 2024, Wheeed! employs five people, three full time and two part time. All but one employee live in Los Alamos County and 60% of our staff are Medical Cannabis Card holders.”
LeDuc added that Wheeed!’s support of the local economy extends up the supply chain as well, supporting 23 local farms and businesses in New Mexico. Most of these are “micro” businesses or farms with 200 or fewer plants and typically owned and operated by just two people. Additionally, Wheeed! Supports over a dozen non-cannabis establishments: local restaurants, small businesses and vendors within Los Alamos and Northern New Mexico.
Tax Law 280E puts a tremendous tax burden on cannabis businesses. (Wheeed!’s gross profit was approximately $377,000 in 2024) Since cannabis is still federally illegal, this law disallows normal business tax deductions. Because of this law cannabis is one of the highest taxed industries in the country.
LeDuc said Wheeed! paid approximately $290,897 in total taxes including:
- $16,258 in payroll taxes
- $103,970 in Cannabis Excise Taxes and Gross Revenue Taxes comprising:
- $2,459 in Gross Revenue Taxes on Non-Cannabis Items (Local Sales Tax 7.0625%)
- $40,333 in Gross Revenue Taxes on Cannabis (Local Sales Tax 7.0625%)
- $61,177 in Recreational Cannabis Excise Tax (State Tax 12%)
- $55,680 in Federal Income Taxes, and approximately
- $10,420 in New Mexico State Income Taxes.
Wheeed donates 1% of monthly gross sales ($5,965 in 2024) to charities, he said, including:
- Los Alamos Arts Council;
- Friends of the Shelter;
- LA Cares Food Pantry;
- Toys for Tots;
- All Individuals First;
- Zia Credit Union Golf Tournament Sponsor; and
- NORML (National Organization for the Reform of Marijuana Laws).
Wheeed! sponsored and hosted multiple events and parties including:
- Sales days and events (almost all of the holidays you can think of plus a couple of Friday the 13ths) with Huge Discounts! Massive Giveaways! Door Prizes! and Gifts! We gave approximately $7,000 worth of (non-cannabis) products and accessories, he said.
“Also, May 20, 2024, our second Birthday Movie Night in conjunction with SALA Los Alamos Event Center – The Darkside of OZ (a mashup of Wizard of Oz and Pink Floyd’s Dark Side of the Moon) with Free Pizza, Popcorn and Candy,” LaDuc said. “Wheeed! also co-sponsored the Los Alamos Summer Concert Series: 4th of July 2024 – Prince Again at Overlook Park, and May 31st Foggy Memory Boys at Ashley Pond. All of your support and patronage helps us to do all of these great things. Thanks for being a part of our 2024 success. Here is to 2025, which is going to be highly awesomer, so stay tuned.”
Wheeed! at 555 Oppenheimer Drive Suite 100 is open 7 days a week:
- Monday 9 a.m. to 5 p.m.
- Tuesday 8 a.m. to 7 p.m.
- Wednesday 8 a.m. to 7 p.m.
- Thursday 8 a.m. to 7 p.m.
- Friday 8 a.m. to 7 p.m.
- Saturday 9 a.m. to 5 p.m.
- Sunday 9 a.m. to 5 p.m.
Wheeed! offers curbside pick up and delivery after 3 p.m., Monday through Friday. To learn more, visit www.wheeed.us.
What does a snail say on the back of a turtle? ‘WHEEE!’