Articles Tagged with cannabis business lawyer

Despite numerous substantial fits and starts, California’s legal cannabis market is still an a growth trajectory. In fact, it’s anticipated that within the next five years, California sales of the crop will account for almost one-quarter of the legal marijuana sold in the country. That’s according to a new analysis by ArcView Market Research and BDS Analytics.cannabis lawyer

Voters in the Golden State agreed to legalize recreational marijuana use three years ago, and sales officially became legal at the start of last year. Prior to that, only sales for prescribed medicinal use was allowed. Although there was a great deal of anticipation about how legalization would unfold, our Los Angeles marijuana business lawyers know the transition to a legal market was rocky at best.

Despite troubles with the black market and untested regulatory rules (including rigid new testing mandates, heavy taxation and licensing that moves at a snail’s pace in some jurisdictions), the current market size is $2.5 billion, according to the analysis. Continue reading

With little or no access to mainstream banking services, all but a few marijuana businesses have remained small ventures. Growth opportunities – within cities, across counties and certainly across state and international borders – are significantly curtailed by the fact that the drug remains illegal under the U.S. Controlled Substances Act. Federal money laundering statutes prohibit financial institutions from offering their services to state-legal cannabis companies so long as the drug remains – no matter how matter how implausibly – a Schedule I narcotic. marijuana business lawyers

Medical marijuana is currently legal in 33 states and 11 states allow recreational marijuana sales and possession. It’s now considered one of the fastest-growing job sources, with some more than $3 billion in projected sales in California alone (the biggest legal market anywhere in the world).

Still, lack of access to banking services has been one of the biggest sources of angst among legal marijuana business entrepreneurs. In addition to difficulty with day-to-day transactions and savings – and all the security issues that arise from being a cash-only operation – marijuana businesses have difficulty starting retirement plans for workers, obtaining insurance or federal bankruptcy protection. Continue reading

California cannabis lawyersThe legalization of recreational marijuana in California on November 9, 2016, brought a host of unexpected questions for the commercial cannabis industry. Municipal and county ordinances have created a confusing web of compliance requirements for marijuana cultivators, distributors, and dispensaries. And in some limited areas, marijuana is simply banned altogether.

County supervisors in San Luis Obispo County are considering a package of commercial cannabis regulations. Among other things, the drafted regulations prohibit the growth of marijuana in areas zoned as residential-suburban. The Tribune reports that this would include the California Valley and the entire Carrizo Plain. Limited groundwater and a high concentration of endangered species (the largest concentration in the lower forty-eight states, according to the California Department of Fish and Wildlife) are reasons given by opponents in support of banning marijuana growth in the Carrizo Plain. This does not, however, give cause for banning marijuana grows in all other residential-suburban areas of San Luis Obispo County.  

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The Adult Use of Marijuana Act ensured that the State of California would begin issuing cannabis business licenses no later than January 1, 2018. The state is working feverishly to meet this deadline. Nevertheless, it is a massive undertaking which will require the coordination of hundred of employees at dozens of state agencies. These include: the Bureau of Medical Cannabis Regulation within the Department of Consumer Affairs; CalCannabis within the Department of Food and Agriculture; the Office of Medical Cannabis Regulation within the Department of Public Health; and the California Department of Technology.

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While it remains to be seen exactly when cannabis business licenses are issued, the state has taken an important step toward implementing an efficient licensing system. Government Technology reports that the state has selected software from Accela, Inc. to manage licensing for the cannabis industry. State Chief Information Officer Amy Tong says the software was chosen due to a competitive price quote, ease and flexibility of use, and its successful history within the industry and other state licensing entities. While this successful history does bode well for cannabis business licensing, it is, of course, no guarantee of success in meeting the state’s January 1 deadline.  Continue reading

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