For years, Michigan’s cannabis operators have been fighting a war on two fronts. Locally, they face a race to the bottom, with the average price of an ounce having dropped to double digits. Federally, they’ve been treated like cartel bosses by the IRS, forced to pay taxes on gross profits because of a Reagan-era relic called Section 280E of the Internal Revenue Code.
With the federal government finally moving to make cannabis a Schedule III drug, the industry has reached a tipping point. For Lansing-area staples and statewide powerhouses, this isn’t just a “legal update”—it’s a balance sheet revolution. Yet, for those still sitting in federal prison cells, the news carries a much sharper sting.
The death of 280E: …