Spencer Fane attorneys Crystal Howard and Rachel Carr Shreves authored the article Tax Relief on the Horizon: How Federal Rescheduling Could Reshape Cannabis Business Taxes, recently published by Reuters.
In the article, originally a firm blog post, the team examines the potential impact of federal cannabis rescheduling, highlighting it as a significant policy shift for the industry. They explain that while the change could ease certain regulatory and financial pressures, including relief from burdens imposed by Section 280E of the Internal Revenue Code for certain companies, its implementation will take time and remains uncertain. They also note that, despite expected benefits, many operational and legal challenges for cannabis businesses are likely to persist.
“Organizations positioned at the intersection of health care, research, and cannabis have unique opportunities to participate in groundbreaking research, but all industry participants should maintain robust compliance programs and monitor developments closely,” the team wrote.
Crystal’s practice resides at the intersection of business transactions and tax efficiency. She guides clients through complex commercial transactions and develops strategic tax planning solutions. By building compliant, scalable frameworks tailored to the unique demands of the wellness industry, she helps clients minimize risk, maximize operational flexibility, and grow in a sustainable, tax-efficient manner.
Rachel focuses on complex financial matters, including bankruptcy, regulatory compliance, and commercial lending. Her practice also encompasses receiverships, bringing a well-rounded perspective to clients navigating distressed assets and compliance challenges across industries. With a strong foundation in commercial law, Rachel supports businesses with practical, business-oriented solutions tailored to their operational and regulatory needs.
Read the team’s full article here.