AOC Supports Trump’s Marijuana Rescheduling Move, Even If It ‘Doesn’t Quite Make All The Wrongs Right’
Key Takeaway
Rep. Alexandria Ocasio-Cortez (D-NY) supports the Trump administration’s move to reschedule marijuana under federal law—but she also worries that enacting incremental cannabis reforms without equity and social justice measures will leave behind many people who have been harmed by criminalization. “This has always been an issue kind of at the heart of decriminalization,” the congresswoman […] The post AOC Supports Trump’s Marijuana Rescheduling Move, Even If It ‘Doesn’t Quite Make All The Wrongs Right’ appeared first on Marijuana Moment.
What This Means for Cannabis Businesses
Tax developments like this directly impact the bottom line for every cannabis operator. With Section 280E creating effective tax rates above 70% for many businesses, any shift in federal tax policy - whether through rescheduling, court rulings, or IRS guidance - can mean the difference between profitability and closure. Cannabis business owners should work closely with a specialized CPA to understand how these changes affect their specific situation.
New York Cannabis Market Overview
New York is one of the newest major recreational markets. Despite a slow rollout, the state has issued over 2,100 licenses and continues to expand. The state has approximately 2,161 active cannabis licenses and 13 licensed testing laboratories. There are 49 cannabis professionals serving New York businesses on our directory, including CPAs, attorneys, and compliance consultants.
Related News
New York Officials Report $2.5 Billion in Cannabis Sales Since Legalization
Cannabis MSOs Owe $1.6 Billion in Unpaid 280E Taxes as IRS Fights Back
IRS Disputes Cannabis Company's Challenge to 280E in Tax Court
Michigan Cannabis Sales Fall to Lowest Level in Two Years Under New Wholesale Tax
This analysis is based on reporting by Marijuana Moment. Read the original article. CannaBizGuide provides original commentary and analysis - this is not legal or tax advice.