UZIO Technology Inc. welcomes Lilly Raney as Head of Sales
Great Falls, VA. Aug 3rd, 2023
UZIO Technology Inc. is delighted to announce the appointment of Lilly Raney as the Head of Sales. She officially joined our team on August 3rd, 2023. Reporting directly to our CEO, Sanjay Singh, Lilly brings a wealth of experience and expertise especially in the Cannabis space to our leadership team.
Meet Lilly Raney:
Lilly Raney, the newly appointed Head of Sales for UZIO, brings over 15 years of diversified industry experience to her new leadership role. Beginning her professional journey in the athletic footwear and apparel sector, she spent a decade supporting specialty brick-and-mortar establishments. In 2018, Lilly made a strategic transition into the cannabis field.
She has since devoted 5 years to specializing in SaaS POS systems, first within the cannabis industry, and subsequently expanding into other SaaS verticals including HR/Payroll with UZIO. As a former Regional Sales Director at Dutchie, Lilly’s core expertise centers on sales leadership and operational efficiency.
With a proven track record and a steadfast dedication to pushing boundaries, Lilly Raney emerges as a beacon of excellence within the realm of sales leadership. Her unwavering dedication to fostering a strong and sustainable future for the cannabis industry is a testament to her commitment to innovation and growth.
Lilly’s Role at UZIO:
In her capacity as Head of Sales, Lilly Raney will play a pivotal role in driving the growth and success of UZIO Technology Inc. Her extensive experience in sales leadership and deep understanding of the cannabis industry and SaaS solutions will be instrumental as we continue to expand our presence and offerings.
A word from the CEO:
“We are very pleased that Lilly has been able to join us and lead our sales team. Lilly’s skillset is very well aligned to our company vision and the verticals we serve. She brings not only tremendous experience and energy, she has a passion for exemplary customer service which very much corresponds to our culture here. I feel confident our customers will be in great hands with Lilly’s leadership.” said Sanjay Singh, CEO of UZIO.
About UZIO:
With over 150+ broker partners, 1700+ Employers relying on UZIO and 70+ carriers serving plans, UZIO offers an Integrated HR, Benefits Administration, and Payroll technology platform for brokers, employers, and employees in the SMB space. UZIO enables SMBs to manage HR and compliance with its user-friendly platform and advanced features.
Cannabis Moving from Schedule I to Schedule III: What Does It Mean for the Industry?
Quick links
-
Introduction
-
Understanding the Schedules
-
Some of the potential impacts of cannabis moving from Schedule I to Schedule III
-
What’s Next
1. Introduction
On August 29, 2023, the US Department of Health & Human Services (HHS) sent a letter to the Drug Enforcement Administration (DEA) recommending that cannabis be moved from Schedule I to Schedule III. This is a significant development, as it could have a major impact on the cannabis industry.
2. Understanding the Schedules
Schedule I drugs are considered to have no accepted medical use and a high potential for abuse. Schedule III drugs, on the other hand, are considered to have a moderate potential for abuse and some accepted medical use.
If cannabis is moved to Schedule III, it would mean that businesses could deduct their ordinary business expenses from their federal taxes. This would be a major boon to the cannabis industry, as it would make businesses more profitable and allow them to invest more in growth and hiring.
It would also make it easier for banks to do business with cannabis companies, as they would no longer be considered to be money laundering businesses. This would help to legitimize the cannabis industry and make it more accessible to consumers.
Of course, there are still some hurdles that would need to be overcome before cannabis could be moved to Schedule III. The DEA would need to agree to the HHS’s recommendation, and Congress would need to pass legislation to make the change. However, this is a positive step forward for the cannabis industry, and it could lead to significant changes in the way that cannabis is regulated and taxed.
3. Here are some of the potential impacts of cannabis moving from Schedule I to Schedule III
- Cannabis moving from Schedule I to Schedule III would eliminate 280E: 280E is the federal tax code that prevents businesses selling Schedule I or Schedule II controlled substances (such as cocaine, cannabis, etc) from claiming deductions for their ordinary business expenses. A lot of well managed cannabis companies are still in the red because they cannot deduct the expenses. Transitioning from schedule I to schedule III could not only make 280E to be unenforceable, but also positively impact companies’ profitability.
- Increased investment in the cannabis industry: As businesses become more profitable, they will be more likely to attract investment from venture capitalists and other investors. This could lead to increased research and development, as well as the expansion of existing businesses.
- Increased employment opportunities: The cannabis industry is already a major job creator, and moving to Schedule III could create even more jobs. This is especially true in the areas of cultivation, manufacturing, and retail.
- Increased access to cannabis for medical patients: Schedule III drugs are considered to have some accepted medical use, which means that it would be easier for patients to get access to cannabis for medical purposes. This could help to improve the quality of life for many patients.
- Ease restrictions to access for cannabis researchers: The Schedule I classification imposes significant requirements on researchers, making it difficult for scientists to study the potential benefits and risks of cannabis. The move to Schedule III could unlock new opportunities for research, potentially leading to new medical treatments and a better understanding of cannabinoids like tetrahydrocannabinol, the main psychoactive substance contained in cannabis plants.
- Reduced criminal penalties for cannabis possession: Currently, possession of even small amounts of cannabis can result in criminal charges. Moving to Schedule III would mean that these charges would be less severe, and it could also lead to the expungement of past convictions.
Overall, the potential impacts of cannabis moving from Schedule I to Schedule III are positive. It would make the industry more legitimate, create jobs, and improve access to cannabis for medical patients. While there are still some hurdles that would need to be overcome, this is a significant step forward for the cannabis industry.
For companies specializing in cannabis staffing, the reclassification would signify a resurgence of growth and hiring. Investment is likely to flow back into the cannabis sector, leading to a positive ripple effect.
Recommended Reading: Biggest pain point with Payroll and HR software
4. What’s Next
The timeline for these changes remains uncertain, but industry experts predict that we may receive an update from the DEA by the end of the year. Implementation, however, could take several quarters. While it might take a bit of time before the positive impact becomes evident in terms of increased hiring, anticipation is building as more information emerges.
In conclusion, the potential reclassification of cannabis from Schedule I to Schedule III and the removal of Section 280E marks a significant step forward in federal cannabis reform. It offers renewed hope to an industry that has faced numerous challenges. While the road ahead may be winding, it presents an opportunity for growth, job creation, and positive change in the cannabis landscape. As developments unfold, the industry and its stakeholders eagerly await a promising future.
Get in touch with us for an expert-led demo to know more about UZIO all-in-one payroll software.