California Marijuana

The human resources trends set to dominate 2024 are certain to disrupt the industry, mostly for the better. This year will be prosperous as multistate brands continue to expand into other states, but there will be challenges. One major inflection point will relate to rescheduling, with cannabis likely to shift from Schedule I to Schedule III. On the competition front, the biggest curveball will be the hemp-derived THC market, which offers a massive loophole for selling products outside dispensaries and without interstate constraints. While rescheduling isn’t a complete win at the level of descheduling altogether, the move is a solid indicator the industry is moving in a positive direction. With the change from Schedule I to Schedule III , which may be approved as early as mid-year, we will see monumental shifts in taxes as cannabis brands finally become able to deduct business expenses like traditional companies do by accessing write-off disallowed under Internal Revenue Code Sectio...