DEA Should 'Promptly Move Forward' With Psilocybin Rescheduling In Light Of Trump's Psychedelics Order, Attorney For Doctor Behind Petition Says
Key Takeaway
The Drug Enforcement Administration (DEA) is being put on notice-again-over prolonged delays in processing a petition to reschedule psilocybin from a doctor who wants to use it to treat terminally ill patients, with an updated reminder that President Donald Trump has now made clear his administration's intent to streamline psychedelic medicine access. In a letter
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.
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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.