McGlinchey in the News
The Feds Consider Making Marijuana Less RegulatedRead Time: 1 min
Associate Daniel Shortt (Seattle) was quoted in “The Feds Consider Making Marijuana Less Regulated,” in Essence from his article “From Schedule I to Schedule III: Potential Shift in Marijuana’s Legal Status” where he discusses the possible classification change of cannabis from a Schedule I to Schedule III classification.
Presently, marijuana businesses face a higher tax burden and they are prohibited “from taking credits or deductions other than those for costs of goods sold,” the law firm McGlinchey Stafford states. In addition, this will also make it easier to study, and “open up many research pathways, allowing U.S. researchers to better understand the cannabis plant and the interactions it has with the human body and mind. This will likely lead to the development of additional marijuana-based drugs, which will require a prescription for use,” the firm continues.
Read the full article here.