Federal Marijuana Rescheduling ‘Does Not Appear To Apply’ To Washington Businesses, State Officials Say
Marijuana regulators in Washington say that the Trump administration’s move to reschedule cannabis on the federal level “does not appear to apply” to businesses in the state. The U.S. Department of Justice in April issued an order that immediately reclassified state-licensed medical cannabis, as well as marijuana products approved by the Food and Drug Administration […]
Illinois Governor Signs Bill To Double Marijuana Possession Limit, Restrict Hemp THC Products And Reform Rules For Businesses
The governor of Illinois has signed a large-scale cannabis omnibus bill into law that doubles the amount of marijuana that adults can legally possess, significantly restricts hemp THC products and makes other changes to rules for how licensed businesses can operate. Gov. JB Pritzker on Friday gave final approval to the legislation, which cleared the […]
State Marijuana Officials Call Out ‘Frustrating’ Lack Of Federal Guidance On What Trump’s Rescheduling Move Means For Businesses
“None of us really can effectively advise our licensees, which is just incredibly frustrating, especially with a ticking clock.” By Amanda Watford, Stateline The U.S. Department of Justice’s recent decision to downgrade the drug classification for medical cannabis will help medical marijuana businesses. Companies will be able to claim some federal tax benefits. New research […]
Lawmakers Push IRS To Issue ‘Prompt’ Tax Guidance For Marijuana Businesses Now That Rescheduling Is Happening
A group of congressional lawmakers are pressing federal officials to issue “prompt guidance” on tax issues for marijuana businesses in light of the Trump administration’s move to federally reschedule cannabis. A new letter, led by Reps. Steven Horsford (D-NV and Steve Cohen (D-TN), notes that “state-legal cannabis businesses have been denied ordinary business tax deductions […]
Tariffs’ Impact On Some Cannabis Businesses May Erase Any Benefits They See From 280E Tax Relief Under Rescheduling (Op-Ed)
“Rescheduling removes a major structural penalty, but tariffs will reshape who captures the gains. All else equal, dispensary-heavy companies may emerge as the primary beneficiaries.” By Justin Leiby, Cannabis Research Institute With federal cannabis rescheduling partially underway and the potential end of the 280E tax penalty approaching, how much relief the cannabis industry will experience […]
Texas’s On-Again, Off-Again Hemp Product Ban Causes Confusion For Businesses And Consumers
“This is what we call the ‘Texas whiplash.’ These poor guys don’t know what is going to happen one day to the next. All they want is certainty and to sell their products.” By Paul Cobler, The Texas Tribune Hemp flower buds and rolled joints were piled into boxes and tucked out of public view […]
Oklahoma Officials Say Medical Marijuana Businesses Must Register With Federal DEA To Avoid Punishment
Oklahoma drug officials have issued guidance warning medical marijuana businesses that they must register with the federal government in order to avoid facing punishments, including potentially having their state registrations revoked. Donnie Anderson, director of the Oklahoma Bureau of Narcotics and Dangerous Drugs Control (OBNDD) said in a letter to cannabis industry operatives on Friday […]
The DEA Just Opened A Door To Federal Cannabis. Nearly 400 Businesses Are Already Racing Through It.
The DEA’s medical marijuana registration portal opened on April 29. By the morning of May 2, nearly 400 businesses had signed up. Operators are racing a June 26 deadline that unlocks a six-month review timeline, the right to keep operating during pendency, and the end of 280E for Schedule III medical cannabis. The federal medical […]
California Officials Make It Easier For Marijuana Businesses To Access Federal Benefits Under Trump’s Rescheduling Move
California regulators are adopting changes to the state’s marijuana licensing process that are intended to make it easier for businesses to qualify for tax deductions and other benefits in line with the Trump administration’s recent move to federally reschedule medical cannabis. Under an action announced by the U.S. Department of Justice last week, marijuana products […]
State-Licensed Marijuana Businesses Can Now Apply For Federal Protections Using New DEA Form
State-licensed medical marijuana businesses can now apply for federal protections in line with the Trump administration’s cannabis rescheduling process. The Drug Enforcement Administration’s “Medical Marijuana Dispensary Registration Portal” went live on Wednesday morning. The move follows last week’s announcement by the Department of Justice that marijuana is being moved from Schedule I to Schedule III […]