Blowing Smoke or Breaking Ground? The New Marijuana Rescheduling Order
Recent federal directives aim to transition cannabis from a Schedule I to a Schedule III controlled substance under the Controlled Substances Act. This historic shift acknowledges the drug’s medical utility while promising significant tax relief for businesses by removing the burden of IRC Section 280(e). Despite these financial benefits, the move does not federally legalize recreational use or resolve long-standing hurdles in banking and trademark registration.
