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In the Media

Marijuana Classification Change Would Alter Tax Collections

Read Time: 1 min

Associate Daniel Shortt (Seattle) was quoted in “Marijuana Classification Change Would Alter Tax Collections” in The Bond Buyer. He expounds on the impact on tax revenue of the proposed classification change of marijuana from Schedule I to Schedule III.

This wouldn’t necessarily affect the way states tax cannabis businesses, Daniel Shortt, associate at McGlinchey Stafford said. Eleven states currently allow local governments to levy standalone excise taxes that apply narrowly to cannabis purchases.

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Insights

Presentation

Create Engaging Digital Content

March 27, 2024

Associate Daniel Shortt (Seattle) will present an American Bar Association Associate Daniel Shortt (Seattle) will present an American Bar Association (ABA) webinar, "Create Engaging Digital Content," on March 27, 2024.

Cannabis Alert

Podcast: Tax and Banking Implications of Rescheduling Marijuana

September 28, 2023

In late August, the U.S. Department of Health and Human Services announced that it would recommend moving marijuana from Schedule I to Schedule III of the Controlled Substances Act. In this episode, corporate cannabis attorney Daniel Shortt moderates a discussion with tax attorney Douglas Charnas and financial services regulatory attorney Aaron Kouhoupt about what impactsMore

In the Media

The Feds Consider Making Marijuana Less Regulated

September 7, 2023

Associate Daniel Shortt (Seattle) was quoted in "The Feds Consider Making Marijuana Less Regulated," in Essence from his article "From Schedule I to Schedule III: Potential Shift in Marijuana’s Legal Status" where he discusses the possible classification change of cannabis from a Schedule I to Schedule III classification.

Alert

DEA Likely to Reschedule Marijuana Based on Congressional Report

September 18, 2023

According to a report from the Congressional Research Service (the Report), the DEA is likely to follow the Department of HHS and the FDA's recommendation to move marijuana from Schedule I to Schedule III under the Controlled Substances Act.

Alert

Rescheduling Marijuana: Understanding the Legal Impacts

July 25, 2023

Marijuana is currently listed as a Schedule I substance in the Controlled Substances Act (CSA); this scheduling means the federal government concluded marijuana has no currently accepted medical use in any setting. In a prior post, we analyzed how the Department of Health and Human Services (HHS), along with the Department of Justice, can opt for descheduling or rescheduling marijuana under the CSA.