Overview
Consider the Wall Street Journal article below, and respond to at least three of these questions:
- What benefits might result from cannabis being reclassified as a less dangerous, “Schedule III substance” as opposed to its current “Schedule I” classification?
- How does this classification relate to taxation of cannabis entities?
- Refer to the graph entitled “ U.S. cannabis companies’ tax liabilities versus cash on hand.” How is it possible that cannabis companies “owe so much back tax?”
- Why would a change in scheduled substance classification impact cannabis companies’ access to bank financing?
- Why do you think Green Thumb Industries pays a lower rate on its bank borrowings than do the other businesses in this sector? To help with your answer, you may refer to the related article “Cannabis Reclassification Would Expand Banking Access to Industry, Advocate Says.”
Your first response will include your responses to at least three of these questions, and will provide substantive depth and thought supported by insight from the article. This will count for up to 9 points.
Your second response will respond to one of your peers' initial post, and will be of at least 100 words to substantively respond. (i.e., "I agree completely" is not sufficient). This will count for up to 3 points, for a total possible of 12 points for complete, on-time contributions to the Discussion Forum. All responses (first and second) are due by the referenced date in the upper-left hand corner.