Dama Business Solutions’ Post

We eagerly anticipate the implementation of these changes and are dedicated to supporting both our valued clients and the broader industry throughout this transition. Stay tuned for more updates as we navigate this exciting journey together! 🚀 #FairRegulations #IndustryAdvocacy #Cannabis #CannabisRescheduling #EndTheStigma #CannabisPolicy #CannabisLegislation

Big News for the #Cannabis Industry this Week! Exciting developments are underway as the Biden administration has taken significant steps towards changing the federal stance on marijuana, which could have major implications for cannabis businesses. The U.S. Department of Health and Human Services has recommended that the DEA reschedule cannabis from a Schedule I to a Schedule III controlled substance. This change is based on extensive reviews and aims to reflect the drug's lower potential for abuse and its medical uses If adopted, this rescheduling would notably ease the financial burdens on cannabis businesses. Currently, businesses in this industry can't deduct typical business expenses due to federal tax codes that apply to narcotics traffickers. Moving to Schedule III would eliminate this issue, potentially reducing tax bills significantly and improving the financial health of these businesses. This change would also simplify the process for cannabis businesses to access banking services and attract investment. It would also improve our ability to drive research into cannabis, as current restrictions heavily limit sourcing and studying the drug. Finally, and most importantly, President Biden has announced federal pardons for all prior offenses of simple possession of marijuana, aiming to reduce the long-term impacts of these convictions on individuals' lives. This move is seen as a step towards correcting past injustices associated with marijuana convictions, particularly in how they've disproportionately affected communities of color. While this isn't the complete de-scheduling we all hoped for, Its still a massive step in the right direction for cannabis businesses. These changes signal a potential shift towards more supportive federal policies. The industry could see reduced operational costs, easier access to financial services, and expanded opportunities for growth and research. #CannabisReform #dispensaries #PolicyChange

Follow ➡️Perkins Coie Cannabis Law for our latest cannabis news, events, and insights, including Cannabis industry group Co-Chair Andrew K.’s article for Bloomberg Law exploring how moving marijuana to schedule III would aid access to legal care. #Cannabis #CannabisScheduling #CannabisIndustry #CannabisBusiness

"Home values have grown at a significantly higher rate in states that have legalized marijuana compared to non-legal states over the past decade—with the average price of a home in a legalization state now 41 percent higher than those that have continues to criminalize cannabis—according to a new report on real estate trends." #cannabis #cannabisindustry #cannabiscommunity #cannabisbusiness #cannabisnews #cannabisrealestate https://lnkd.in/gnSwg8n4

In their Bloomberg Law article, Andrew Kline, co-chair of Perkins Coie Cannabis Law industry group, and Porter Wright Morris & Arthur LLP's Shane Pennington discuss how reclassifying marijuana as a Schedule III substance would facilitate medical use and allow resources to be focused on more harmful drugs. #Cannabis #CannabisScheduling #CannabisIndustry #CannabisBusiness

In their Bloomberg Law article, Andrew Kline, co-chair of Perkins Coie Cannabis Law industry group, and Porter Wright Morris & Arthur LLP's Shane Pennington discuss how reclassifying marijuana as a Schedule III substance would facilitate medical use and allow resources to be focused on more harmful drugs. #Cannabis #CannabisScheduling #CannabisIndustry #CannabisBusiness

In their Bloomberg Law article, Andrew Kline, co-chair of Perkins Coie Cannabis Law industry group, and Porter Wright Morris & Arthur LLP's Shane Pennington discuss how reclassifying marijuana as a Schedule III substance would facilitate medical use and allow resources to be focused on more harmful drugs. #Cannabis #CannabisScheduling #CannabisIndustry #CannabisBusiness

In their Bloomberg Law article, Andrew Kline, co-chair of Perkins Coie Cannabis Law industry group, and Porter Wright Morris & Arthur LLP's Shane Pennington discuss how reclassifying marijuana as a Schedule III substance would facilitate medical use and allow resources to be focused on more harmful drugs. #Cannabis #CannabisScheduling #CannabisIndustry #CannabisBusiness

🚨NEW DEVELOPMENT: Senators are calling on the DEA to completely remove marijuana from its Controlled Substances Act, while also insisting on a prompt update regarding the progress of the rescheduling procedure. In a letter dated January 29th, 2024, a group of 12 senators, led by Elizabeth Warren and John Fetterman and signed by Majority Leader Chuck Schumer, states, "the DEA should reschedule marijuana altogether." "The DEA has never kept a drug in Schedule I after HHS recommended removing it and it must not do so now. It is imperative that the DEA remove marijuana from Schedule I as several members of Congress and state attorneys general have urged" The senators are requesting a response by February 12th to address the current status and timeline of this ongoing matter. #stocks #stockmarket #investment #investing #investors #politics #marijuana #cannabis https://lnkd.in/gCEBPekZ

🌿 𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆 𝐍𝐄𝐖𝐒: 🌿🚀 𝐇𝐢𝐬𝐭𝐨𝐫𝐢𝐜 𝐒𝐡𝐢𝐟𝐭: 𝐓𝐡𝐞 𝐉𝐮𝐬𝐭𝐢𝐜𝐞 𝐃𝐞𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 𝐏𝐫𝐨𝐩𝐨𝐬𝐞𝐬 𝐑𝐞𝐜𝐥𝐚𝐬𝐬𝐢𝐟𝐲𝐢𝐧𝐠 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐬! 📜 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬: The 𝐉𝐮𝐬𝐭𝐢𝐜𝐞 𝐃𝐞𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 has proposed reclassifying cannabis to a 𝐥𝐞𝐬𝐬 𝐝𝐚𝐧𝐠𝐞𝐫𝐨𝐮𝐬 𝐝𝐫𝐮𝐠 𝐜𝐚𝐭𝐞𝐠𝐨𝐫𝐲, acknowledging its medical uses and lower potential for abuse compared to some other drugs. The proposed rule would move cannabis from 𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞 𝐈 𝐭𝐨 𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞 𝐈𝐈𝐈, but it wouldn't legalize recreational use outright. The 𝐃𝐄𝐀 will seek 𝐩𝐮𝐛𝐥𝐢𝐜 𝐜𝐨𝐦𝐦𝐞𝐧𝐭 on the proposal involving a 60-𝘥𝘢𝘺 and possible review by an administrative judge. The 𝐔.𝐒. 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐬 𝐂𝐨𝐮𝐧𝐜𝐢𝐥 views this change as a significant shift away from past failed policies. While rescheduling may not have an immediate impact on federal prosecutions for simple possession, it could 𝐞𝐚𝐬𝐞 𝐟𝐞𝐝𝐞𝐫𝐚𝐥 𝐫𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬, reducing tax burdens for marijuana businesses and facilitating research efforts. Let's stay tuned with B-HIVE for further developments on this groundbreaking announcement! 🌟 #JusticeDepartment #CannabisReclassification #BreakingNews 📰