Rescheduling marijuana would be a big tax break for legal cannabis businesses – and a quiet form of deregulation

Consequences will go far beyond the tax bill that businesses face, a tax law professor explains.

By: Sloan Speck, University of Colorado Boulder, The Conversation

Outlets: The Conversation

Published: January 29, 2026

Words: 1,478

Last Updated: 1 month, 2 weeks ago

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By Sloan Speck, University of Colorado Boulder

In December 2025, the Trump administration accelerated the process of reclassifying marijuana from Schedule I to Schedule III under the Controlled Substances Act – a shift that would reduce restrictions and penalties associated with the drug.

Under the move, medical and recreational marijuana would still remain illegal at the federal level. At the state level, medical use is currently legal in 40 …

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