Reaching consensus on hotly debated issues is rare in the cannabis space, especially when it comes to potential ramifications of marijuana rescheduling. Some industry experts, such as cannabis hedge fund manager Patrick Rea, are optimistic that a wall of capital will flow into the sector, given the right catalyst. Others, including banker Peter Su, remain […]
Navigating the Double-Edged Sword of Federal Cannabis Legalization – Cannabis Business Executive – Cannabis and Marijuana industry news skip to Main Content Source link
The U.S. Drug Enforcement Administration has contacted 25 “designated participants” to testify at a Dec. 2 hearing about marijuana rescheduling, according to documents obtained by MJBizDaily. Before marijuana can be moved from Schedule 1 to Schedule 3 of the Controlled Substances Act, DEA Administrator Anne Milgram ordered that the matter go before an administrative law judge. […]
The Internal Revenue Service continues to be a thorn in the side of state-legal marijuana businesses, even as their hemp industry cousins largely dodge the taxman’s scrutiny, creating an increasingly lopsided playing field. “Hemp is not subject to 280E, or is at least reasonably interpreted as not being subject to 280E, even if you’re selling […]
The Internal Revenue Service faces mounting pressure to clarify cannabis tax rules, as a key Supreme Court decision threatens to upend the agency’s interpretative authority and rescheduling looms large over the industry. The American Institute of CPAs in a letter this week urged the U.S. Treasury Department and the IRS to provide advance guidance for […]
