Marijuana rescheduling moves businesses into ‘uncharted territory’ ...Middle East

Marijuana business owners hoping to benefit from the Biden administration’s move to reschedule the drug may be in for disappointment, according to experts.  The administration announced plans Thursday to move forward with a rule that would reschedule marijuana to Schedule III from from Schedule I under the Controlled Substances Act (CSA).  Under U.S. tax code, no business that deals with a Schedule I or Schedule II substance is permitted to make any deductions or add any credit to their annual federal taxes. That stands to change when marijuana becomes a Schedule III drug.  Those in the marijuana space acknowledge that being able to deduct expenses from taxes will be helpful, with

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