Internal Revenue Code at 26 USC ยง 280E. That provision subjects cannabis operators to effective tax rates far north of 50%, more than any other businesses in United States. Cannabis remains a Schedule I substance in Controlled Substances Act. 280E IRC 280E Deductions and credits.
Beginning January 1, 2024 following passage of Assembly Bill 2188 California Fair Employment and Housing Act FEHA add employee protections against discrimination off-the-job cannabis use with exceptions. Governor Newsom signed Assembly Bill 2188 into law September 18 2022.
President Biden made two announcements on the federal government and weed. He is issuing mass pardons for federal convictions of simple marijuana possession and ordered Secretary of Health and Human Services Xavier Becerra to start process to review marijuana classification.
Bradley's Budding Trends editors Whitt Steineker, Jay Wright, Hunter Robinson, Slates Veazey discuss cannabis issues in the news and take a stab at where the cannabis industry is going in the future. This installment focuses on the cannabis market in the Southern states.
Federal government classifies marijuana as Controlled Substances Act Schedule I drug, no currently accepted medical use for marijuana high potential for abuse. Federal government not enforced law, houses of Congress introduced bills to legalize marijuana at federal level.