{"id":1153,"date":"2024-05-16T09:34:00","date_gmt":"2024-05-16T14:34:00","guid":{"rendered":"https:\/\/www.mgocpa.com\/?post_type=perspective&#038;p=1153"},"modified":"2025-07-10T15:01:34","modified_gmt":"2025-07-10T20:01:34","slug":"are-you-ready-to-take-advantage-of-rescheduling","status":"publish","type":"perspective","link":"https:\/\/www.mgocpa.com\/perspective\/are-you-ready-to-take-advantage-of-rescheduling\/","title":{"rendered":"Is Your Cannabis Company Ready to Take Advantage of Rescheduling?"},"content":{"rendered":"\n<p><strong>Key Takeaways:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The potential rescheduling of cannabis presents an opportunity to reevaluate your company&#8217;s tax structure and increase deductions, reduce income, and simplify accounting.<\/li>\n\n\n\n<li>Rescheduling may open up access to previously unavailable tax credits, incentives, and deductions at various government levels. <\/li>\n\n\n\n<li>With anticipated increased investment and cash flow after rescheduling, companies should prepare for potential mergers and acquisitions by seeking support in areas like financial due diligence and post-acquisition planning.<\/li>\n<\/ul>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>The rescheduling of cannabis from Schedule I to Schedule III will unlock new opportunities for cannabis businesses. Is your company positioned to capitalize?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Tax Restructuring<\/h2>\n\n\n\n<p>If your existing operating structure was optimized for Section 280E mitigation, now is the time to evaluate whether it will still be tax-efficient after rescheduling. <\/p>\n\n\n\n<p>MGO\u2019s dedicated cannabis tax team can analyze your current structure and identify opportunities to increase deductions, reduce income, simplify accounting, and eliminate unnecessary tax exposures. We will help you develop a strategy specific to your business needs that aligns with your operational goals and any regulatory considerations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Tax Credits, Incentives, and Deductions<\/h2>\n\n\n\n<p>Rescheduling should open cannabis operators to a world of previously unavailable tax benefits. <\/p>\n\n\n\n<p>Our tax professionals can comprehensively review your business operations to uncover tax credits, incentives, and deductions that you may qualify for at the federal, state, and local levels.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Financial and Internal Control Audits<\/h2>\n\n\n\n<p>While rescheduling will eliminate the Section 280E tax burden and attract new investors to the cannabis industry, it could also lead to a new regulatory framework. <\/p>\n\n\n\n<p>Our audit services can provide assurance to investors that your company is effectively managing risks, complying with any regulatory changes, and maintaining transparency.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Mergers and Acquisitions (M&amp;A)<\/h2>\n\n\n\n<p>The projected wave of investment and increased cash flow resulting from rescheduling means more M&amp;A should be on the horizon.<\/p>\n\n\n\n<p>If your company is considering an M&amp;A deal (either as a buyer or seller), MGO can support your efforts with structuring, financial &amp; tax due diligence, Quality of Earnings (QoE) assessments, accounting integration, strategic guidance, and post-acquisition planning.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\">With a <a href=\"https:\/\/www.mgocpa.com\/solution-and-industry\/cannabis\/\" target=\"_blank\" rel=\"noreferrer noopener\">dedicated cannabis team<\/a> and a comprehensive line of services, MGO can help you take full advantage of the benefits made available by rescheduling. <a href=\"https:\/\/www.mgocpa.com\/solution-and-industry\/cannabis\/#lets-talk\" target=\"_blank\" rel=\"noreferrer noopener\">Reach out to our team today<\/a>.<\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways: &#8212; The rescheduling of cannabis from Schedule I to Schedule III will unlock new opportunities for cannabis businesses. Is your company positioned to capitalize? Tax Restructuring If your existing operating structure was optimized for Section 280E mitigation, now is the time to evaluate whether it will still be tax-efficient after rescheduling. MGO\u2019s dedicated [&hellip;]<\/p>\n","protected":false},"featured_media":1154,"template":"","meta":{"_acf_changed":false,"content-type":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"perspective_topic":[154,116,119,155,120,68,16,121],"perspective-type":[42],"class_list":["post-1153","perspective","type-perspective","status-publish","has-post-thumbnail","hentry","perspective_topic-advisory","perspective_topic-cannabis","perspective_topic-due-diligence","perspective_topic-internal-audit","perspective_topic-ma","perspective_topic-tax-credits-and-incentives","perspective_topic-tax-guidance","perspective_topic-transaction-advisory","perspective-type-articles"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is Your Cannabis Company Ready for Rescheduling - MGO CPA | Tax, Audit, and Consulting Services<\/title>\n<meta name=\"description\" content=\"The potential rescheduling of cannabis presents an opportunity to reevaluate your company&#039;s tax structure and simplify accounting.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mgocpa.com\/perspective\/are-you-ready-to-take-advantage-of-rescheduling\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Your Cannabis Company Ready for Rescheduling - 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