States

Top Ten Problems with Recreational Marijuana

Baby marijuana plants

1) Banking Marijuana businesses have always had a hard time doing banking in that banks are Federally-chartered institutions. Neither checking accounts nor debit or credit accounts are permitted, in theory anyway. However, it appears there is good news on the way. In early 2014, U.S. Attorney General Eric Holder announced that the Justice and Treasury departments were jointly working on ...

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Colorado v. Washington

Colorado state flag vs Washington state flag

Which state will serve as a model for other markets when it comes to crafting a recreational cannabis regime: Colorado or Washington? Although Washington and Colorado both legalized recreational marijuana in November of 2013, the two states have taken very different paths since then. Colorado appears to be the obvious winner from a business perspective with its recreational marijuana market ...

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States Update

Approximately 15 states have established a path to legalizing marijuana. Some are further along than others. 2016 will be the next big year for recreational ballot measures. Meanwhile, the following obtains: Alaska There is a general election vote in August 2014 that will likely approve a regulatory scheme similar to that of Colorado, plus a $50 per-ounce tax. Oregon There ...

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Colorado Marijuana Industry Projected King of the Mountain

Snow skiers on a summit

The marijuana industry in Colorado seems to be growing with no end in sight. As more retail stores open, the revenue is growing even more than anticipated. Combining recreational marijuana sales with medical marijuana sales with sales of ancillary products and services, the Colorado marijuana industry will be enormous. Some observers are estimating that the Colorado marijuana industry will be ...

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Congressional Entrepreneur Bidding for Dispensary Licenses

Push pins marking locations on paper map

A former Congressman from Massachusetts is applying for a dispensary license in the state. Bill Delahunt, who represented Massachusetts’ 10th congressional district from 1997 to 2011, is bidding for licenses in the cities of Mashpee, Plymouth and Taunton. The involvement of a former Congressman in a medical marijuana company should change the perception of the industry and also could lead ...

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Rhode Island?

Jamestown lighthouse in Jamestown Rhode Island

A Rhode Island state report just released estimates that passage of the state’s proposed Marijuana Regulation, Control, and Taxation Act could generate up to $82 million in annual tax revenue. Bringing adult marijuana sales into the open allows the state to tax wholesale and retail marijuana transactions and provides needed transparency to all stages of marijuana transactions. Passage of the ...

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Recreational Sales Rise 5% in Colorado

Colorado flag with hemp leaves overlay

Colorado recreational marijuana sales rose 5% in February to hit $15.1 million, The rate is larger than it appears given that there are fewer days in February. Cannabis outlets generated about $540,000 each day in February, compared with about $464,00 the previous month – an increase of about 15%. Colorado’s recreational sales are expected to grow steadily through the year ...

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NJ Not Into Recreation

New Jersey highway signs

New Jersey voters are split down the middle when it comes to legalizing marijuana. However, they do not support a recreational industry at this time. A poll at Monmouth University/Asbury Park Press said that 48% of voters support legalizing the possession of marijuana. Voters were less supportive of legalizing a recreational marijuana industry; only 36% were in favor. While 45% ...

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Driving Under the Influence of Marijuana a Cloudy Issue for Law Makers

Traffic sign with marijuana symbol

Marijuana-positive drivers possess a mildly elevated risk of being in accidents compared to drug and alcohol free drivers—but this risk is not positively correlated with higher blood/THC levels, according to results published online in a journal, Accident Analysis and Prevention. Researchers assessed the risk of accident associated with drivers who tested positive for the presence of drugs or alcohol in ...

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Poll: Virginia is for Pot Lovers

Lake in Farmville Virginia

Maybe not “lovers” but definitely supporters. A poll was just released that shows major support for medical marijuana in Virginia. Poll after poll shows that it is time to legalize medical marijuana nationwide. Below are results from the poll. Virginia supports medical marijuana by an overwhelming 84 – 13 percent. Support for recreational marijuana is divided, with a large generation ...

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