High Time for Cannabis Businesses to Start Tax Planning

6 months ago

Kristy Caron, Gregory Novotny, Chantal Renta Fox Rothschild LLP Cannabis businesses should prepare now for certain tax benefits since the Drug Enforcement Administration’s (DEA) recent recommendation to reschedule cannabis from a Schedule I controlled substance to a Schedule III controlled substance. Namely, the rescheduling will enable cannabis companies to escape the federal tax deductions and credits prohibition […]