Dropping weed from a Schedule I to a Schedule III drug could allow certain tax deductions for legal California pot businesses, providing relief from the burden of hefty state taxes.
Federal code 280E currently prevents dispensaries from seeking tax breaks for basic operating costs, a hindrance that could be eliminated if marijuana is reclassified as Schedule III.
The director of California NORML stated the industry 'really needs a shot in the arm' due to tough times, emphasizing the potential positive impact of rescheduling marijuana.
#marijuana-rescheduling #california-pot-businesses #tax-deductions #federal-regulation #industry-impact
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