'Medical Marijuana Is Now Legal In South Carolina,' GOP Senator Declares As Republican Governor Candidate Calls It A 'Gateway Drug'
Key Takeaway
A Republican South Carolina state senator says that "medical marijuana is now legal" in the state following the Trump administration's move to enact federal rescheduling-but a GOP congressman who is running to be the next governor says he has a "problem with marijuana," calling it a "gateway drug." State Sen. Tom Davis (R), who has
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.