The Drug Enforcement Administration (DEA) has made a historic decision—agreeing to move marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA).

Moving marijuana to Schedule III, as recommended by the U.S. Department of Health and Human Services (HHS), also carries major implications for state-legal cannabis businesses. When it’s implemented, it will mean that marijuana firms can officially take federal tax deductions that they’ve been barred from under an Internal Revenue Service (IRS) code known as 280E.

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