Reclassify Marijuana from a Schedule I to a Schedule III drug
President Joe Biden has announced that his administration is officially moving to reschedule marijuana under federal law, applauding the “monumental” action that follows an extensive administrative review that he directed.
The Justice Department will soon post its proposed rule to move cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA) in the Federal Register, a senior administration official said on Thursday. There will then be a 60-day public comment period before the rule is potentially finalized.
The PREPARE Act
A bipartisan bill reintroduced in the U.S. House would direct the Attorney General to establish the Commission on the Federal Regulation of Cannabis to advise on the development of a regulatory framework modeled after federal and state alcohol regulatory frameworks.
The legislation would direct federal regulators to develop a regulatory and revenue framework to ensure safe production and consumption of cannabis, which the authors say, “would account for the unique needs, rights and laws of each state, and present such a framework to Congress within one year.”
The sponsors said the proposal builds upon the Obama and Trump Administrations’ efforts to “remedy the unjust consequences of the war on cannabis, particularly those suffered by minority, low-income, and veteran communities.”
House Bill Would End 280E Tax Restrictions for Cannabis Companies
A bipartisan U.S. House proposal filed this week would exempt state-legal cannabis companies from the restrictions of IRS Code 280E, which has vexed modern cannabis operators for years. House Rep. Earl Blumenauer (D-OR) reintroduced a bipartisan proposal yesterday that seeks to let state-licensed cannabis companies throughout the country take the standard tax deductions afforded to any normal U.S. business. Originally co-sponsored by Reps. Blumenauer, Nancy Mace (R-SC), and Barbara Lee (D-CA), the Small Business Tax Equity Act addresses IRS Code Section 280E, a 1982 provision that prohibits the standard business tax deductions for operations associated with illegal drug trafficking and which — because the plant remains a federally scheduled substance — has vexed modern, state-legal cannabis operators for years.
If approved, the bill would exempt state-legal cannabis companies from the restrictions of 280E. The proposal has been introduced in previous sessions but never advanced.
CANAVERI RX STORE ECOMMERCE PLATFORM
Oklahoma City, OK — Canaveri, an industry-leading cannabis software suite and point-of-sale platform for licensed cannabis retailers today announced the launch of CANAVERIRX.STORE, a new e-commerce product. CANAVERIRX.STORE allows dispensary partners to take a leap forward by providing their customers with the option to prepay for online orders.
“This is great news for our partners, as offering a prepayment option has been shown to increase cart size by as much as 35%,” said Canaveri CEO and Founder Larry Roybal. “In addition to the prepayment access, dispensaries can now provide a great customer experience that is proven to increase customer interest and sales. With CANAVERIRX.STORE, our partners will attract and retain more customers, keep them engaged and build customer loyalty.”
We can assist your dispensary with an e-commerce online and payment processing
Gain online customers
List your various products by category
Build a customer loyalty program
Oklahoma voters reject recreational cannabis
Special election results show roughly 60% of voters in the state cast their ballot against approving recreational marijuana.
Oklahoma voters will decide Tuesday March 7, 2023, whether to approve ballot measure 820
That would legalize recreational sale of cannabis to adults 21 and older. The state of Oklahoma already has one of the nation’s most robust medical cannabis programs.
2022 Canaveri Compliance and Sales Award
Please join Canaveri in congratulating Bigfoot Traphouse, The Hippie Joint and Mo Trees Dispensaries on winning the 2022 Sales and Compliance award. 2022 was a year of constantly changing regulation updates. Despite those challenges the winners of our 2022 award, dispensaries kept the high levels of customer service, OMMA compliance and partner relationship with Canaveri to improve their services. ” We are excited to celebrate these partner dispensaries and their employees.”
Canaveri – Bridgepay Is Building a Point of Sale and Payment Processing Services Ecosystem for the Cannabis Industry
Based in Oklahoma City, Oklahoma, Canaveri has been focused on the cannabis industries since 2020, when it serviced its first cannabis merchants in Oklahoma’s growing legal medical cannabis market. Canaveri slipped quietly but reliably into the essential role of Compliance Consultant, Point-of-Sale provider, Payroll, Tax, Digital Menus and now facilitator of the Card Payment processing services every cannabis merchant needs to operate a business successfully. Canaveri has steadily expanded its client base as well as its suite of offerings that are designed to meet the myriad needs of highly regulatory and dynamic industry.
Today, Canaveri introduces a custom Card Payment Processing solution Bridgepay that include credit card and debit card acceptance. This new offering, we be directed under the leadership of Lauren Kulak, Director of Payment Solutions.
Canaveri will be announcing a new e-Commerce solution in the near future. CEO Larry Roybal, who explained that Canaveri has been and continues to be singularly focused on building an ecosystem of solutions for cannabis dispensaries. “It has been part of our DNA ever since we decided to start Canaveri.”
Recent Comments