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New Rule Proposed By DEA Rescheduling Cannabis To Allow Businesses More Deductions With IRS Receives Support From Legislators

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The prime benefits of classifying cannabis as a Class 3 substance is that the Federal government would recognize medical benefits of cannabis, make Section 280E inapplicable to licensed cannabis operators, and open up financial and banking markets. The Associated Press reported on April 30, 2024 that the Drug Enforcement Administration (“DEA”) will propose a rule […]

Unless Congress Acts To Legalize Cannabis, Here’s Why You Cannot Count On The Recent Proposed Rule To Reschedule Cannabis To A Class 3 Substance.

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The prime benefits of classifying cannabis as a Class 3 substance is that the Federal government would recognize medical benefits of cannabis, make Section 280E inapplicable to licensed cannabis operators, and open up financial and banking markets. The Associated Press reported on April 30, 2024 that the Drug Enforcement Administration (“DEA”) will propose a rule […]