Cannabis industry expects financial benefits from rescheduling; Rescheduling timeline
- Breathe Free USA
- Dec 22, 2025
- 2 min read
Law firms and business consulting firms that serve the cannabis industry are expecting financial benefits for cannabis businesses - specifically in taxes and banking - as a benefit of rescheduling marijuana. One business consulting firm notes, "If the federal government moves cannabis from Schedule I to Schedule III under the Controlled Substances Act, it won’t legalize the industry outright, but it will reshape how cannabis businesses operate, grow, and access capital."
Banking
This same business consulting firm notes that "most cannabis businesses still lack access to traditional banking services" due to federal banking laws around Schedule 1 substances. However, "with cannabis treated more like a regulated pharmaceutical than a controlled narcotic, some financial institutions may begin offering basic services like:
Commercial checking and savings accounts
Business credit cards and merchant services
"Larger banks will likely remain cautious. Federal banking laws would still treat
cannabis as a controlled substance, and full participation may hinge on broader
legislation like the SAFE Banking Act. But rescheduling could be a turning point for
mid-sized lenders and service providers who were previously on the fence."
This firm recommends that cannabis businesses should clean up their books and start developing stronger internal financial systems, as banks will likely be "selective" if and when they open their doors.
Taxes
One law firm notes that once rescheduling takes effect, businesses will be able to deduct standard expenses on taxes like:
Rent and utilities.
Employee wages (beyond production staff.)
Advertising and marketing.
Insurance premiums.
Legal and professional fees.
All other ordinary and necessary business expenses.
This firm notes that "This will dramatically improve profit margins and financial viability across the entire industry—from cultivation to retail."
Another huge benefit is that rescheduling signals federal recognition of medical use, which would make doctors more comfortable recommending medical marijuana to patients and generally open the door to growth and legitimacy of the medical marijuana industry.
Timeline
Note that marijuana is not yet rescheduled. This firm says:
"The executive order directs expedited completion of the rescheduling process, which requires finishing the pending administrative law hearing, publishing the final rule in the Federal Register, and allowing the typical 30-60 day period before the effective date.
"If the Trump Administration diligently pursues this Executive Order, we could see rescheduling finalized within 3-6 months, though timing ultimately depends on how quickly the administrative process moves forward."
Marijuana Not Federally Legal
This law firm notes, "rescheduling does NOT change:
Marijuana’s status as a federally controlled substance.
The prohibition on interstate cannabis commerce.
Employers’ ability to maintain drug-free workplace policies.
Restrictions on federal employees and contractors.
Immigration consequences related to marijuana activities.
State laws and regulations."
