✉news BusinessBusiness first seen 4 h ago, last 25 min ago, peak #1
Federal marijuana rescheduling set to reshape medical cannabis businesses
Original: 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.
Why now: The federal government's move to reschedule marijuana has major financial and regulatory implications for the cannabis industry.
medical marijuana businessesIRSDrug Enforcement AdministrationTalk Business & Politics
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- Federal rescheduling to impact taxes, operations of medical marijuana businesses · Talk Business & Politics
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