Federal reschedule of medical marijuana could bring down drug prices in Missouri

COLUMBIA, Mo. (KMIZ)

The Department of Justice reclassified medical marijuana from being grouped with strong, potent drugs like heroin or LSD--to a lower classification to allow for research. The reclassification could also lower medical marijuana prices for some consumers.

Dan Veits, a lawyer for the Missouri branch of the National Organization for the Reform of Marijuana Laws, said that rescheduling medical marijuana from a Schedule I to a Schedule III drug would allow dispensaries to deduct business expenses from their taxable income.

"Previously, those who engaged in illegal sales of cannabis, medical or non-medical, could not deduct their business expenses," Veits said. "So, they had to pay taxes on their gross income, and that is just almost impossible to live with."

That would make marijuana more profitable and potentially lead to lower prices because dispensaries no longer have to carry that burden. It only applies to medical marijuana, though.

"It'll mean nothing to those who use non-medical marijuana," Veits said. "It'll still be against the law to deduct business expenses, even for those who are legally selling non-medical marijuana. So, it won't have any impact whatsoever, at least not directly or immediately, on anyone other than medical marijuana patients."

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