Articles Tagged with California marijuana business lawyers

While there are lingering concerns around the cannabis industry, with the federal government scrutinizing statemarijuana attorney legalization measures and uncertainty about the effects of tax reform and unemployment rates, there is still a lot of optimism surrounding marijuana industry stocks in the U.S.

Cannabis stocks saw a spike around the holiday season, bolstered by an increase in spending overall in November of 2017. Some reports even indicated marijuana and marijuana products were a popular gift this year. Our marijuana attorneys urge you to check local laws and only purchase, give and transport commercial products legally.

With reports showing possible economic growth in the U.S., it could mean a continued upswing for an ever-expanding marijuana market. The right factors seem to be in place to potentially see more people investing in the industry and more consumers with expendable income to buy recreational marijuana and related products.

This trend is expected to continue with California recently opening up legal recreational marijuana sales in the state, thanks to the Adult Use of Marijuana Act, ushering in the potential for a great deal of commerce in one of the nation’s biggest markets. Cities across the state were able to decide for themselves whether to participate and how, with major markets such Los Angeles throwing their hats in the ring.

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Last week, the state of California started accepting applications from marijuana businesses and start-ups seeking to operate within the state’s legalized marijuana industry in 2018. This is a major milestone from this burgeoning market, and it’s being furthered by a new online system that will allow retailers, distributors and product testing services to obtain the licensing necessary to engage in business under newly unveiled state regulations.marijuana business lawyer

Sales of recreational marijuana in California will begin Jan. 2nd. Although our state was the first to approve of medical marijuana with Proposition 215 in 1996, we have lagged when it comes to implementing recreational marijuana sales. Still, as the largest state to enact such a law, many other states following suit will be watching carefully. The state’s Bureau of Cannabis Control (the Bureau of Medical Cannabis Regulation prior to the passage of Proposition 64) announced that with applications beginning to be submitted, we’re one step closer to the issuance of the first commercial cannabis business approvals.

The launch of the online system appeared to be going well, with officials saying visitors were mostly just exploring the site as opposed to actually sending in full applications. Some got started on an application, submitting certain bits of information, and then saved it to finish later. Temporary licenses, which are effective for four months, won’t be effective until the beginning of the year, and businesses must first obtain a local permit before they can successfully apply for a state-issued license. These temporary licenses cost $1,000 per application fee. A background check requirement is to be waived.  Continue reading