Babaamaajimowinan (Telling of news in different places)

Marijuana rescheduling will make pot businesses 'significantly more profitable'

Tax write-offs could save businesses millions and lead to lower prices for consumers

The federal government is removing some barriers to Minnesota's budding marijuana industry by reclassifying the drug as less dangerous.

If the decision to move marijuana from a Schedule I to a Schedule III controlled substance goes forward as planned, businesses could take advantage of normal tax write-offs, something state-licensed growers and dispensaries around the country are unable to do under current IRS rules.

That will add up to millions in savings for Minnesota cannabis businesses, removing a major barrier to profitability and potentially opening the door to more would-be cannabis entrepreneurs.


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