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Once rescheduling occurs (or possibly even before), the IRS may publish guidance on how rescheduling affects Section 280E and the deduction of marijuana-related expenses. In the meantime, cannabis businesses may consider working with their tax professionals on how best to time paying or incurring marijuana-related expenses, as well as to submit all necessary documentation to preserve their rights to obtain refunds for taxes previously paid under 280E.
Continue Reading Paid or Incurred: Marijuana Rescheduling, Taxes, and Section 280E

On May 21, 2024, the Drug Enforcement Agency (DEA) filed the Proposed Rule to move marijuana from Schedule I of the Controlled Substances Act (CSA) to Schedule III of the CSA. In light of the rescheduling marijuana news, industry insiders anticipate a significant increase in cannabis-related investments and acquisition activity. While this anticipated increase in activity is exciting, it is no secret that those who have already invested capital into the cannabis industry have learned some hard lessons over the last decade.
Continue Reading Rescheduling Marijuana FAQs: Cannabis-Related Investments

On May 16, 2024, the U.S. Drug Enforcement Administration (DEA) released the proposed rule (Proposed Rule) to reschedule marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA). The Office of Legal Counsel (OLC) also provided a memo to the Department of Justice (DOJ) supporting the DOJ, which oversees the DEA and grants the DEA authority to make rules under the CSA to the DEA.
Continue Reading Rescheduling Marijuana FAQs: How Do I Submit Comments on DEA’s Proposed Rules?

Marking a significant development for the cannabis industry both in the state of Florida and throughout the U.S., an initiative will appear on the November 5, 2024, ballot in Florida, which could amend its constitution to allow the sale of recreational marijuana.
Continue Reading Florida Supreme Court Paves Way for Voters to Legalize Recreational Marijuana in November

At the White House last Friday, Vice President Kamala Harris spoke at a meeting with people who received pardons from President Joe Biden for marijuana-related offenses. She signaled that the federal government, namely the Drug Enforcement Administration (DEA), is moving “as quickly as possible” towards rescheduling marijuana – that is, changing the way…

Continue Reading What is the Timeline for Rescheduling Marijuana?

On January 29, 2024, the Ohio Division of Cannabis Control (DCC) released the first package of proposed rules (Regulations) to govern the state’s emerging legal cannabis market. The Regulations cover the Ohio marijuana license application process and also remove and rescind certain fees.

When will initial applications be made available?

… Continue Reading Ohio Marijuana License Application Process Outlined by Regulations

Based on recent events, it seems likely marijuana will be rescheduled under the Controlled Substances Act (CSA) sometime this year. While many industry experts have discussed the impacts in recent months, many questions still remain with respect to how the rescheduling of marijuana could impact federal trademarks and state…

Continue Reading 2024 Cannabis Trademarks and Branding

Last week, the Department of Health and Human Services (HHS) released the full text of its letter (HHS Letter) to the Drug Enforcement Administration (DEA), recommending marijuana rescheduling from Schedule I to Schedule III. Schedule I substances are deemed to have no currently accepted medical use (CAMU) and…

Continue Reading DEA is Going to Have a Hard Time Fighting Marijuana Rescheduling
Featured Podcast Episode

Securing Retail Space for Your Cannabis Business (Episode 2 of 2)

Obtaining retail space for any small business is a big move. There are many issues to consider, and working with a knowledgeable real estate lawyer helps to avoid surprises down the road. This episode discusses licenses for retail space for cannabis businesses from the landlord and tenant perspective. Hosts also review issues unique to the cannabis business when renting retail space.