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marijuana industry
Trends
- 1Federal marijuana rescheduling set to reshape medical cannabis businesses●Federal rescheduling to impact taxes, operations of medical marijuana businesses
A move by federal authorities to reschedule marijuana is expected to significantly affect medical marijuana businesses, particularly their taxes and day-to-day operations. Rescheduling from Schedule I could allow cannabis companies to deduct normal business expenses under federal tax law, ending restrictions imposed by IRS Code 280E and easing banking and operational hurdles for operators.
- 2Oklahoma confronts environmental toll of its marijuana boom▼Oklahoma reckons with environmental costs of marijuana industry
Oklahoma is facing scrutiny over the environmental impact of its large-scale marijuana industry, one of the most permissive medical cannabis markets in the United States. Concerns include water use, pesticide runoff and abandoned grow sites left by operators who exited the crowded market, prompting state officials and regulators to weigh how to manage the industry's ecological footprint.