420 with CNW — Shifting Cannabis to Schedule III May Have Major Ramifications
The U.S. Health and Human Services Department recently recommended that the federal government reclassify marijuana as a Schedule III drug. Drugs under this classification are said to have a low-moderate potential for addiction and/or abuse. These drugs can also be acquired through prescription, even though they aren’t generally available over the counter. They include ketamine, products with less than 90 mg of codeine and anabolic steroids. If the U.S. government heeds this call, there may be significant implications for a range of marijuana-related issues. For instance, marijuana businesses could claim deductions on their federal tax obligations because they wouldn’t be…
