The Department of Justice’s move to reclassify marijuana as a less dangerous drug, on which it began formal proceedings on May 16, won’t legalize state-level adult-use and medical marijuana unless it’s produced, sold, and used within the regulations of the Controlled Substances Act. Banks and other ...
Ohio’s Dual-Use Marijuana License Applications Available June 7
In accordance with Ohio’s new adult-use marijuana legislation, applications for initial dual-use marijuana licenses will be made available by the Division of Cannabis Control (DCC) on its website no later than this Friday, June 7 – a historic day in the state. The applications that will be made ...
Paid or Incurred: Marijuana Rescheduling, Taxes, and Section 280E
The cannabis industry knows well the economic burden imposed by Section 280E of the Internal Revenue Code of 1986 (Code). It substantially increases the cost of doing business because it disallows deductions for expenses related to “trafficking” in marijuana – expenses that other traditional ...
Rescheduling Marijuana FAQs: Cannabis-Related Investments
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 ...
Rescheduling Marijuana FAQs: How Do I Submit Comments on DEA’s Proposed Rules?
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) ...
Ohio’s Recreational Cannabis: Almost Ready to Roll
Today, May 13, 2024, Ohio’s Joint Committee on Agency Rule Review (JCARR) approved eleven rules previously submitted by the Division of Cannabis Control (DCC) for administrative rule review. Under Ohio law, JCARR is the final committee that must approve the proposed rules. Now What? Next, ...
Marijuana Rescheduling is Here: How DEA’s Decision Will Impact Cannabis Businesses
After fifty years, the federal government finally acknowledged that marijuana has medical value and is not as dangerous as heroin. As first reported by the Associated Press and confirmed by Marijuana Moment, on April 30, 2024, the Drug Enforcement Administration (DEA) announced it will be ...
Florida Supreme Court Paves Way for Voters to Legalize Recreational Marijuana in November
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. On April 1, 2024, Florida’s ...
What is the Timeline for Rescheduling Marijuana?
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” ...