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Biden Did That... [View all]
Thanks Joe!
https://www.marijuanamoment.net/dea-agrees-to-reschedule-marijuana-under-federal-law-in-historic-move-following-biden-directed-health-agencys-recommendation/
DEA Agrees To Reschedule Marijuana Under Federal Law In Historic Move Following Biden-Directed Health Agency’s Recommendation
The Drug Enforcement Administration (DEA) has made a historic decision—agreeing with the top federal health agency and moving marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA).
The decision comes more than 50 years after cannabis was first listed as a strictly prohibited drug, on par with heroin and defined as a substance with no known medical value and a significant abuse potential.
Moving marijuana to Schedule III, as recommended by the U.S. Department of Health and Human Services (HHS), also carries major implications for state-legal cannabis businesses. When it’s implemented, it will mean that marijuana firms can officially take federal tax deductions that they’ve been barred from under an Internal Revenue Service (IRS) code known as 280E.
The decision comes more than 50 years after cannabis was first listed as a strictly prohibited drug, on par with heroin and defined as a substance with no known medical value and a significant abuse potential.
Moving marijuana to Schedule III, as recommended by the U.S. Department of Health and Human Services (HHS), also carries major implications for state-legal cannabis businesses. When it’s implemented, it will mean that marijuana firms can officially take federal tax deductions that they’ve been barred from under an Internal Revenue Service (IRS) code known as 280E.
