Explainers
What Is an MSO? U.S. Cannabis Operators Explained
An MSO is a cannabis company licensed in two or more states. Here is how multistate operators are structured, who the largest are, and why it matters.
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Explainers
Cannabis Rescheduling to Schedule III: What April 2026's Order Did and Did Not Do
The DEA moved state medical cannabis to Schedule III on April 22, 2026. Adult use cannabis stays Schedule I. Here is what the order actually does.
Explainers
Hemp vs. Marijuana: The 0.3 Percent THC Line Explained
Hemp and marijuana are the same plant. The legal difference is a single number: 0.3 percent delta-9 THC by dry weight. Here is how that line works.
280e
What Is Section 280E? Cannabis Tax Rule Explained
Section 280E bars state legal cannabis operators from deducting ordinary business expenses, driving effective federal tax rates above 70%. Here is how it works.