420 Cannabis Legalization News: IRS Tip Taxes, Rescheduling ‘Slow Walk,’ Illinois Loans Stalled & Hemp Crackdown

Send us Fan MailOn 420 Eve, Tom and co-host discuss cannabis legalization news, arguing the IRS is the main federal agency still enforcing marijuana laws through IRC 280E, including an IRS clarification that the “no tax on tips” deduction doesn’t apply to cannabis workers like budtenders. They cover a hot-mic clip of Trump joking that DOJ is “slow walking” rescheduling, and compare broader non-enforcement by agencies like the FDA. The episode highlights Illinois delays with $40 million in promised social equity loans for 166 licensees as they struggle to open a regulated dispensary with costly requirements like full-time security, vault rules, and limited product display. Other topics include Rhode Island’s residency-requirement lawsuit delaying licensing, tariffs raising RAW rolling machine costs, a Canadian-structured cannabis company using Chapter 15 bankruptcy, Maryland and Oregon medical cannabis bills (pets and hospitalized kids), Texas hemp litigation, Virginia retail delays, and a Singapore execution for cannabis trafficking.00:00 Show Intro and Headlines00:53 420 Eve and Hemp Loopholes02:01 IRS and No Tip Tax03:06 Cannabis Culture and Activism04:19 Trump Rogan Rescheduling Clip06:06 Illinois Equity Loans Delayed07:02 Hemp Influencers and Real Rules13:01 Dispensary Build Compliance Grind13:54 Vaults Security and Tech Stack17:36 Rhode Island Licensing Blocked19:29 Regulation vs Open Markets22:16 Where Did the Culture Go24:59 Manifesto for the Normies25:48 Absurd Cannabis Laws26:27 Hemp Versus Weed Divide27:03 Canadian Bankruptcy Loophole29:56 Debt Restructuring Basics32:12 Puppies Kids And Cannabis33:56 420 Store Prep Struggles36:25 Colorado Tax Overhaul Talk37:29 Hemp Confusion And Politics39:58 Virginia Texas And Crackdowns42:02 Global Penalties And 420 Sales46:47 Kentucky Hemp Drink Rules48:46 Live Pod Sign OffSupport the showGet our newsletter: https://bit.ly/3VEn9vu