IRS Slams 280E, Virginia Moves to Sell, and Texas Targets THCA

Send us Fan MailThe hosts discuss cannabis legalization frustrations and preview stories for the week ending March 15, 2026, led by a tax court case tied to roughly $1.6B in MSO 280E-related liability, where the U.S. argues cannabis businesses fall “within the meaning” of Schedule I/II for 2016–2017 tax years, despite the ongoing rescheduling push. They note a Ninth Circuit decision that the dormant Commerce Clause does not apply to cannabis, contrasting with East Coast rulings and a continuing circuit split after the Supreme Court declined review. State updates include Texas’s March 31 ban on smokable hemp/THCA flower sales, Tennessee “pot for potholes” messaging, Virginia’s new micro-vertical licensing framework and regulator setup, Alabama’s medical rollout delays due to litigation, Florida’s ballot initiative setbacks and political hypocrisy, and Verano’s $195M loan amid ongoing MSO expansion.Support the showGet our newsletter: https://bit.ly/3VEn9vu