Newsbrief: Calif. regulators adopt emergency regs for rescheduling
California State Capitol, photo by Andre M Wikimedia Commons
California's Department of Cannabis Control adopted several emergency regulations to accommodate federal MED rescheduling. With MED now a Schedule III drug under the Controlled Substances Act, it potentially changes the exposure to industry-hated tax rule 280E for MED and REC activity.
Under the new emergency regulations, California is allowing operators with a combined MED and REC retail license to split it into a REC license and a new MED license. The new MED license may be held by a different entity from the existing license. However it must have the same ownership.
The . . .
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