Blog By: Antonio C. Ellzey
In this Blog, 3L Staffer Antonio C. Ellzey discusses the challenges faced by entrepreneurs in the cannabis industry, particularly the impact of Section 280E of the Internal Revenue Code, which limits deductions for businesses engaged in the cannabis trade due to federal prohibition. Ellzey discusses the potential benefits of rescheduling cannabis from Schedule I to Schedule III, which he argues would alleviate financial burdens on cannabis businesses, enhance safety, and stimulate economic growth.