What happens if cannabis moves to a lower-risk drug tier?
10.03.23 9:00 AM
A recent recommendation from U.S. health officials could move marijuana from a Schedule I substance to a Schedule III substance before the end of the year. Perhaps the largest impact of this move would be the way cannabis businesses are taxed, as they’d no longer be subject to Internal Revenue Code 280E (IRC 280E). Lance Boldrey (leader of Dykema’s Cannabis group) and John Fraser (Michigan Team Leader of Dykema’s Cannabis group) are joined by Scott Kociensk of Dykema’s Federal Tax group to discuss the implications this could unlock for the industry.