A replay of Rescheduling vs. Decriminalization – The Movement for Cannabis Legalization and Its Impact on Today’s Market is now available for viewing.
Webinar: Rescheduling vs. Decriminalization – The Movement for Cannabis Legalization and Its Impact on Today’s Market
Duane Morris will hold its next Cannabis Webinar, Rescheduling vs. Decriminalization – The Movement for Cannabis Legalization and Its Impact on Today’s Market, on Thursday, May 8, 2025, from 12:30 p.m. to 1:30 p.m. Eastern.
The panel discussion features journalist filmmaker Michele Mitchell, who will examine the history of the cannabis movement, its impact on the current state of the cannabis market, and whether rescheduling or decriminalization would have the most beneficial impact for cannabis as this nascent industry continues to grow.
Filling Credit Risk Gaps for Cannabis Businesses
Tracy Gallegos, partner and team lead of the Duane Morris Cannabis Industry Group, is quoted in American Banker about CTrust’s recently launched Cannabis Trust Score and its impact on the industry. […]
“Until there’s a rescheduling, obtaining traditional banking loans is going to be a significant hardship for plant touching operators,” said Gallegos, referring to cannabis’ classification as a Schedule 1 controlled substance, which exposes banks to potential money laundering investigations, which prevents most banks from lending to cannabis businesses. […]
“Having a company like CTrust provide a credit score is an indicator of credit worthiness, but it won’t do anything to solve any of the issues that the banks are facing in terms of the banks being penalized for engaging in business with what the federal laws still consider an illegal activity.”
DEA Rescheduling, Pa. Legalization Efforts May Breathe New Life Into Cannabis Practices
Duane Morris cannabis industry group team lead Paul Josephson spoke with The Legal Intelligencer on Pennsylvania cannabis legalization as the Drug Enforcement Administration has officially moved to reschedule marijuana from a Schedule I to a Schedule III substance.
“There’s not a legal practice area that hasn’t touched or worked for our cannabis practice here,” he said, although he and other attorneys emphasized the potential growth in financing work should rescheduling and local legalization efforts go through.
“Removing this from Schedule I … it provides immediate tax relief to companies in the cannabis business,” Josephson said, explaining that as the law currently stands, cannabis businesses aren’t allowed to deduct business expenses when they calculate and pay taxes, resulting in razor-thin profit margins. “When rescheduling happens, when that monkey comes off the back of the industry, it will improve cashflows for everyone in the business and allow for more investment.” Read more on the Duane Morris website.
Marijuana Bankruptcy Reform Could Be Inching Closer for US Operators
Distressed U.S. marijuana operators remain largely unable to access bankruptcy relief, an ongoing challenge in a tough industry where business failures are common. But with federal marijuana rescheduling possible in the near future – and with signs of shifting attitudes in recent bankruptcy court cases – reform could be somewhere over the horizon.
Duane Morris’ Ryan Spengler is cautiously optimistic that progress in court rulings, combined with rescheduling, could help open the door to new bankruptcy options for U.S. plant-touching marijuana companies. Read the full article on the MJBiz Daily website.
What Rescheduling Could Mean For Cannabis Bankruptcies
Lawrence J. Kotler, Seth A. Goldberg and Ryan Spengler authored the Law360 article, “What Rescheduling Could Mean For Cannabis Bankruptcies.”
More than 75% of the U.S. population lives in states that have legalized cannabis for adult and/or medical use. Pursuant to a 2022 directive from President Joe Biden, a 2023 recommendation of the U.S. Department of Health and Human Services, and a scientific review released in January supporting the HHS’s recommendation, the U.S. Drug Enforcement Administration is now evaluating whether to reclassify cannabis as a Schedule III drug.
Webinar Replay: Internal Revenue Code 280E and Tax Efficiency
A webinar replay of Mainstreaming Cannabis: Internal Revenue Code 280E and Tax Efficiency is now available for viewing.
Video Player
00:00
00:00
Webinar: Internal Revenue Code 280E and Tax Efficiency
The Duane Morris Cannabis Industry Group, the American Trade Association for Cannabis and Hemp and Centri Business Consulting will present Mainstreaming Cannabis: Internal Revenue Code 280E and Tax Efficiency on Friday, March 8, 2024, from 12:00 p.m. to 1:00 p.m. Eastern.
Continue reading “Webinar: Internal Revenue Code 280E and Tax Efficiency”
How Regulatory Reforms Could Reshape M&A Pulse In Cannabis Industry
Tracy Gallegos, partner and team lead of the Duane Morris Cannabis Industry Group, discussed the cannabis industry’s mergers and acquisitions (M&A) landscape at the Benzinga Cannabis Capital Conference on September 27, 2023.
The discussion also touched upon the rescheduling of cannabis, with differing opinions on its likelihood. Ms. Gallegos said she skeptical due to formal rulemaking processes and international treaty considerations.