Blum Holdings Inc (BLMH)

[Rosco Mac]

From Leafly.com:

Rescheduling cannabis would help to solve the tax and banking issues cannabis businesses face. Currently, IRS rule 280(e) prohibits business from deducting most expenses. Likewise, the banking industry has been reticent to work with cannabis businesses, compelling much of the industry to operate only in cash. Note that IRS rule 280(e) includes both Schedule I and II drugs, so the DEA would need to reschedule cannabis to Schedule III or lower, or Congress would have to enact legislation to allow tax deductability for businesses selling Schedule II drugs.