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marijuana industry
Trends
- 1Federal marijuana rescheduling set to reshape medical cannabis businesses●Federal rescheduling to impact taxes, operations of medical marijuana businesses
A move by federal authorities to reschedule marijuana is expected to significantly affect medical marijuana businesses, particularly their taxes and day-to-day operations. Rescheduling from Schedule I could allow cannabis companies to deduct normal business expenses under federal tax law, ending restrictions imposed by IRS Code 280E and easing banking and operational hurdles for operators.
- 2Oklahoma confronts environmental toll of marijuana industry▼Oklahoma reckons with environmental costs of marijuana industry
Oklahoma is examining the environmental consequences of its large-scale marijuana cultivation sector, including water use, energy consumption and land impacts tied to grow operations. The state has become one of the country's biggest cannabis producers since legalizing medical marijuana, and the industry's rapid expansion has prompted growing scrutiny of its ecological footprint and calls for stronger oversight.