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On 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 Headlines
00:53 420 Eve and Hemp Loopholes
02:01 IRS and No Tip Tax
03:06 Cannabis Culture and Activism
04:19 Trump Rogan Rescheduling Clip
06:06 Illinois Equity Loans Delayed
07:02 Hemp Influencers and Real Rules
13:01 Dispensary Build Compliance Grind
13:54 Vaults Security and Tech Stack
17:36 Rhode Island Licensing Blocked
19:29 Regulation vs Open Markets
22:16 Where Did the Culture Go
24:59 Manifesto for the Normies
25:48 Absurd Cannabis Laws
26:27 Hemp Versus Weed Divide
27:03 Canadian Bankruptcy Loophole
29:56 Debt Restructuring Basics
32:12 Puppies Kids And Cannabis
33:56 420 Store Prep Struggles
36:25 Colorado Tax Overhaul Talk
37:29 Hemp Confusion And Politics
39:58 Virginia Texas And Crackdowns
42:02 Global Penalties And 420 Sales
46:47 Kentucky Hemp Drink Rules
48:46 Live Pod Sign Off

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