MJBizCon Panelists Issue Cannabis Industry Predictions For 2025
“I think rescheduling does happen – I think it happens sometime in 2025”
Hearings to reschedule marijuana began only this week, but the cannabis industry should look for the U.S. Drug Enforcement Administration to reclassify the plant in 2025.
That’s the prediction that MJBizDaily political reporter Chris Roberts made Wednesday during the annual “State of the Industry” general session at MJBizCon, the world’s largest B2B cannabis industry event.
“I think rescheduling does happen – I think it happens sometime in 2025,” Roberts said on stage at the Las Vegas Convention Center.
Moving marijuana from Schedule 1 of the Controlled Substances Act – a category reserved for substances with no accepted medical use and high potential for abuse – to Schedule 3 would exempt regulated cannabis operators from the burdensome Section 280E of the Internal Revenue Code.
According to the Washington, D.C.-based Marijuana Policy Project, being unable to deduct standard business expenses under Section 280E means the effective tax rate for many licensed marijuana operators is 70%; conversely, the corporate tax rate for mainstream businesses is 21%.
“You’re all going to save a lot of money on your taxes, but exactly when, we still don’t know,” Roberts said Wednesday.
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