Pot Industry Deals With Ultimate Buzzkill: Self Regulation

The rules have to come from somewhere. For some cannabis industry leaders, they’d rather be the ones to set the rules and regulations for their businesses.  It’s a double-edged sword when they say they just want to be treated like any other legitimate industry.Equal treatment could of course be good for legal weed, especially if businesses were taxed at typical rates instead of double or even triple those rates, as mandated by IRS tax section 280E. But if federal regulators were to reschedule marijuana and treat medical cannabis products similar to pharmaceutical or agricultural products it would, as I wrote last year, add “costly and timely steps to the pot-selling process that some say could bankrupt most of these businesses.”

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