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- 1Federal marijuana rescheduling to hit medical cannabis business taxes●Federal rescheduling to impact taxes, operations of medical marijuana businesses
The US federal government's move to reschedule marijuana is set to change how medical marijuana businesses are taxed and run. Reclassification could ease the current tax burden that prevents cannabis companies from deducting normal business expenses, while also altering operational and banking rules. Business analysts say companies in the medical cannabis sector will need to adapt their finances and compliance practices as the new federal framework takes effect.