With President Donald Trump’s executive order last week to downgraid reschedule cannabis, leading businesses in the industry are rolling out their growth strategies.
MariMed, Ascend Wellness Holdings and other key players are focusing on expansion, innovation and operational upgrades as doors that were long closed begin to open.
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Rescheduling frees the $32 billion legal U.S. cannabis industry from 280E of the Internal Revenue Code, promising near-immediate benefits in the form of federal tax relief. Rescheduling is also expected to encourage major institutional investors to enter the cannabis space and lower borrowing costs.
But at the same time, multistate operators will need to be ready for more regulation, such as more traditional accounting and financial scrutiny, according to Norman Yousif, CEO of cannabis store
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