Editor’s note: The amount projected by Mr. Jordan refers to Curaleaf’s annual revenue, not that of the entire industry as previously stated.

Jordan opened the conversation by saying this time it seems the government is taking a much more serious approach, "one based on science."

"This decision is important for two reasons. The first is, is that it will allow for research, very much needed medical research on this plant and the various cannabinoids in this plant," said Jordan, adding that government-funded research can presumably be undertaken once cannabis is moved to a Schedule III substance.

And Then There's The IRS

In addition to helping the industry in terms of safety and research there is the black market and the IRS. Jordan explains how they're connected.

Jordan talked about how rescheduling relieves the cannabis industry of the ‘capricious and unconstitutional 280e tax which has been burdening the industry over the last 10 years."

Which Means?

Jordan broke it down with some shockingly large dollar amounts being unfairly paid by the industry and what it will mean when the pain stops.

"The industry pays approximately a 70 to 75% tax," Jordan said, whereas "other companies in the United States pay a 20 to 22% tax. So, it has a very profound effect on the industry.” To put it in perspective, relieving, or rescinding this tax, he said, will contribute to $150 to $200 million to Curaleaf’s bottom line of this year's projected revenue.

Illicit Market Vs. Legal Market: Will The Twain Ever Meet?

Jordan indicated that the twain will indeed meet or at least it should. In terms of the booming illicit cannabis market, he told CBNC that the change in marijuana's schedule is going to help the industry strike a balance.

$70 Billion Vs. $30 Billion

Sounds like a win-win.

Now Read: EXCLUSIVE – System Of A Down’s Shavo On Cannabis Rescheduling: ‘Still A Long Way To Go But It’s A Huge Milestone’

Photo: Benzinga