marijuana rescheduling

One Signature Could Remove Marijuana From Schedule I Tomorrow

In the never-ending loop of federal marijuana reform debates, one crucial fact keeps getting overlooked: the Attorney General (AG) has the power to reschedule marijuana. Right now. No act of Congress. No HHS review. No rulemaking marathon. Just a signature. Under 21 U.S.C. § 811(d)(1), the AG can unilaterally reschedule marijuana to better align U.S.

rescheduling california

What Rescheduling Marijuana Means for California’s Cannabis Industry

California‘s cannabis industry suffers from a seemingly unending list of problems: high taxes, prohibitionist cities, a related lack of retail licenses and oversupply of non-retail licenses, a monster illegal market with no end in sight, burdensome and often senseless regulations, and so on. Unfortunately, rescheduling won’t solve most of these problems–at least not directly. Today

reschedule

Yesterday’s Marijuana Rescheduling News, Explained

Yesterday, some big news dropped that the cannabis industry has anticipated since last summer. I take issue with some of the headlines, so here’s mine: “DEA Reportedly Agrees to Initiate Proposed Rulemaking to Reschedule Marijuana…”. Clearly, I’m a lawyer and not a reporter, but the “Reportedly” and “Initiate Proposed Rulemaking” are key considerations here at

arizona cannabis

Arizona Cannabis Sales Go Beyond $1.4 Billion

Arizona’s record-breaking cannabis market In the landscape of booming and busting cannabis markets, Arizona emerges as a standout success story. A naturally beautiful state that attracts a sizeable group of tourists every year, Arizona skyrocketed past $1 billion in total cannabis sales for 2023. Unlike its northern neighbor of Nevada, Arizona has exceeded $1 billion

california cannabis taxes

California Cannabis Tax Collection and Penalty Nightmares

California’s cannabis taxes are a disaster, with no end in sight. I’ve written about the state’s tax problems extensively, but today I want to talk about what the state can do when it comes to tax collection. Late cannabis taxes? Get used to hefty penalties If a licensed cannabis business fails to timely or fully

tax compliance

Oregon Marijuana: OLCC Announces Changes to Certificate of Tax Compliance Rule

The OLCC announced several changes to the tax compliance rule this weekend at the Cannabis & Psychedelic Section of the Oregon Bar Association’s annual conference (where I was pleased to moderate a panel on the failures of legalization). This rule has been a hot topic in Oregon cannabis for several months and the OLCC will

cannabis subchapter s election

How Did You Mess Up Your Cannabis Subchapter S Election?

The internet is littered with writings on the relative merits of corporate forms and tax elections for cannabis businesses. Even the best of these articles are as dull as ditchwater, because the topic is tax. Most of the authors mention subchapter S taxation at some point, and the showier ones may even dredge up cannabis

cannabis tax

Read This Before Selling Your Cannabis Business. Or Filing Your Next Tax Return

I’d like to send a shoutout to tax lawyer Nick Richards for an intriguing opinion piece published on Friday, September 1 in Marijuana Business Daily. Nick outlines two approaches to potentially help cannabis businesses recoup buckets of cash from Uncle Sam. One approach, which is known to us, may be utilized by cannabis businesses throughout

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