Will the government finally legalize marijuana?

[Benton]

(01-26-2016, 01:35 PM)JustWinBaby Wrote: Ehhh, unless the Feds decide to actually start enforcing the law, it's pretty much up to the states if they want to legalize it.

Not sure what happens if they change the classification making it no longer federally illegal.  I would assume states could still ban it, but maybe not.  Leaving the law on the books but not enforcing it pretty much allows the states to do whatever they want.

I'm curious about the federal tax aspect, mainly as it relates to business. If a business growing and selling a legal product in Colorado — but an illegal one with the federal government — how can they claim any business expenses at that level? I don't see it as any different than a meth maker writing off mileage to go pick up fertilizer and batteries, but I'm guessing the IRS wouldn't consider that a business expense.

And you're correct, at least from the lawmakers I've talked to. If declassified, it would be up to states. Since most (all?) already have some laws regarding marijuana, those laws would be in effect, just as they already are unless superseded by federal law.