"Schedule III drugs, substances, or chemicals are defined as drugs with a moderate to low potential for physical and psychological dependence. Schedule III drugs abuse potential is less than Schedule I and Schedule II drugs but more than Schedule IV. Some examples of Schedule III drugs are:
Products containing less than 90 milligrams of codeine per dosage unit (Tylenol with codeine), ketamine, anabolic steroids, testosterone"
Ok fair enough and a great link...but here is the twist to this.
That page describes Xanax as a schedule 4, and yet I have been charged not once but twice with felony possession of Alprazolam and was adjudicated guilty both times, so perhaps we are both correct in this case, and that yes its a schedule 3 but its also a felony.
"Schedule III drugs, substances, or chemicals are defined as drugs with a moderate to low potential for physical and psychological dependence. Schedule III drugs abuse potential is less than Schedule I and Schedule II drugs but more than Schedule IV. Some examples of Schedule III drugs are:
Products containing less than 90 milligrams of codeine per dosage unit (Tylenol with codeine), ketamine, anabolic steroids, testosterone"
http://www.dea.gov/druginfo/ds.shtml
https://www.erowid.org/ask/ask.php?ID=2972