As the industry’s (more than justified) excitement over last week’s rescheduling announcement begins to subside, the regulatory reality is settling in.
According to recent analysis from the Congressional Research Service, cannabis businesses may not need to wait for rescheduling to challenge the now-notorious 280E tax burden, suggesting that it may be unconstitutional.
Ahead of the upcoming public hearing on cannabis rescheduling in the US, the American Institute of Certified Public Accountants (AICPA) has called on the Treasury Department to update tax guidelines for cannabis businesses.
