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California Advances two Bills Regulating Medical Marijuana

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Marijuana Business FundingMedical and recreational marijuana is big news in all states. From the legalization of cannabis oil for terminally ill patients in Georgia, to legalized recreational marijuana in Colorado, the topics and talk are endless. While states and consumers are embracing this legalization, you need to remember that any type of marijuana containing THC, or Tetrahydrocannabinol is still federally illegal. The potent, and thus illegal, chemical compound is long been proven effective for managing pain in patients who have terminal conditions, ranging from cancer to AIDS.

Luckily, the state of California has recognized this, and they have pushed forward two bills that help regulate the industry. This bill creates a framework for governing the medical cannabis industry, from establishing tax structures and quality controls to licensing dispensaries and cultivation sites. A Bureau of Medical Marijuana Regulation established within the existing Department of Consumer Affairs would oversee the industry. It sounds like a great plan, and a plan that should be able to help the businesses more successful. The second bill, AB 266, would spread the responsibility for licensing different aspects of medical marijuana across several state agencies, including the Board of Equalization and the departments of Public Health and Food and Agriculture. Local governments would oversee growing and selling marijuana. This works as well, and many love the “local’ aspect to this bill. Not all areas are the same, both economically and socially, so this more localized option may fare better.

One of this bills will pass, as the state needs better control of their legalized marijuana market. That being said all legalized marijuana merchants need to have control of their companies. This starts with a good business plan and following local regulations. This also starts with how you operate your business. Few start out with the funds needed to fully provide for all of its business needs, so a good marijuana business funding source is needed. It can be hard to locate one that is equipped to deal with this industry, so be sure to fully research all of your options before making a quick decision. Every marijuana business funding source is different, and most have varying terms. By researching your options, you are bettering your chances of having a successful business.

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Retail Marijuana Sales May Start Early in Oregon

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Oregon sign with marijuana leafOregon merchants and consumers, rejoice! There is a chance that retail marijuana sales may start early – in fact, one year early. While there was a 15 month hold for retailers, the state may waive the hold, and sales may start as early as October 2015. This isn’t far away, and if you are a merchant, this is great news.

However, there is first the issue of who can sell legalized marijuana in Oregon. If signed by Gov. Kate Brown, the bill, SB 460, would allow licensed medical marijuana dispensaries in Oregon to sell limited amounts of marijuana to customers that are over the age of 21 as soon as October 1, 2015. The bill that legalized recreational marijuana, Measure 91, stated that the Oregon Liquor Control Commission would not start accepting commercial retail license applications until January 4, 2016. This is a big difference, but regardless of what type of legalized marijuana merchant you want to be, you need to begin the steps to legally sell the product.

While obtaining licenses and permits of the state and local level is imperative to a good start, you also need to be sure that you thoroughly check out all of your employees. In fact, check them out before they are employees. While asking questions during an interview sometimes heed the answers you need, you need to do background checks. Yes, this is costly, but thankfully there are websites you can go to do a free preliminary search to check out your employees. I’m not talking about Facebook, but rather local court websites. Most have an online docket where you can look up a person and their criminal (or civil) history for free.

You also need to make sure that you have a reliable marijuana payment processor, as well. This can be hard to find, since the state-legal industry is still federally illegal. There are few that exist that focus solely on the legalized marijuana – medical and retail – market, and you need to be sure that whomever you choose is right for your business. Be sure to do your research, as a marijuana payment processor is one of the most important investments you will make.

For Oregon Marijuana Merchant Processing contact us today!

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Legalized Marijuana Helps All Industries – Including Real Estate

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marijuana dispensary merchant accountMarijuana and real estate may seem like they do not go together, at least legally. When you think of the two words together, you may think of a big drug lord and his mega mansion. However, in today’s world legalized marijuana is quickly becoming a familiar feature, and this legality can help local real estate markets. It doesn’t help only because the proprietor is making big bucks, but it helps small downtown areas, and other commercial areas. This legalization has caused some to worry, but for areas who have legalized it, they are seeing the economic growth that it can bring.

One of the unknown or perhaps un-thought of, real estate issues that come with legalized marijuana is where it is grown. New York State, which has legalized medical marijuana, permits the marijuana to be grown in an enclosed greenhouse or warehouse. This brings the need for rentable space, or buyable space for those lucky ones who can afford to purchase property in New York. These are spaces that otherwise would be unoccupied, and thanks to the legalization of medical marijuana, they are now occupied, and the monies paid in rent is filtered back through the state’s economy. Other have found that hemp, a nationally legalized strain of cannabis, can be grown and used for other things. For instance, clothing, jewelry, and building materials. Hemp can be shipped around the globe, unlike it’s green cousin, and can be grown and processed (and used) without any odor.

While starting your own legalized marijuana business can bring you big bucks, it can also contribute to all aspects of your local economy. From providing jobs, to renting a retail space, to ordering takeout at local restaurants, the economic flow is endless. You need to make sure that you have your company in order, from employees down to marijuana merchant processing account, so that your business can fully contribute to your local economy. Not all areas are welcoming to the industry as soon as it is legalized, but after the local economy grows, they become friendlier to the new growth in the area.

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Sacramento Marijuana Bill makes it to the Senate

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SacramentoAs marijuana becomes decriminalized at a much faster rate, more laws are being instated. With 25 American states already legalizing marijuana, it’s important for regulations and growing restrictions to be placed. The Sacramento bill AB-243 has recently passed and is on its way to senate. This bill essentially aims to regulate the growing procedures of medical marijuana so it remains legal and remains under control at all times.

The new bill is going to regulate the amount of plants each growing operation can have, the amount of water it can use on a daily basis, where to discharge the water and much more. Chemicals will also be required in order to avoid discharging intoxicated water. As medical marijuana continues growing, it’s important for these regulations to be instated in order to keep an eye on all activities. It’s more of a matter of control just like with any other industry.

Medical marijuana is still illegal on a federal level, making it difficult for businesses in the marijuana industry to grow in the first place. They often have to result to getting a special marijuana payment processing account simply to accept credit card payments. Along with these new regulations, growers could be facing numerous complications. With a maximum amount of plants per growing op, it will definitely limit the amount of profits that each grower will be able to achieve.

Although the bill has not yet passed senate, it’s on its way and is the first marijuana related bill to make it to senate this year. Things are looking good for this bill, especially since it aims to add more control over the newly developed industry.

Northern California is home of numerous growing operations and keeping order and control is of utmost importance. Instance of entire towns drying out due to overuse of water for medical marijuana growing operations have occurred. This bill aims to avoid such instances from ever reoccurring again. We will have to wait and see whether or not senate will pass the bill.

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Time to Move Forward as House Reauthorizes Rohrabacher-Farr CJS Amendment

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Washington DC Capitol detail on cloudy skyEyes are now focused on the future after the United States House of Representatives backed the reauthorization of the Rohrabacher-Farr medical marijuana amendment through a majority vote. The amendment has been authorized to the CJS- Commerce, Science, and Justice Appropriations bill for the year 2015.

The Rohrabacher-Farr medical marijuana amendment prohibits the US Department of Justice from spending public money on prevention of the implementation of medical marijuana programs. In the absence of the amendment, the constitution would prohibit any state-level medical marijuana programs from being implemented. It would as well approve funding for raids on federal medical marijuana, sanction arrests and prosecutions in different US states where medical cannabis has been legalized.

In essence, the constitution would overrule any other laws governing the medical marijuana programs in various states.

The Rohrabacher-Farr medical marijuana amendment currently covers 39 states following the addition of seven more states into the program last year. It also protects access to medical marijuana programs for about 275 million residents of the different states.

Patients now applaud the move by the US House of Representatives to have the Rohrabacher-Farr medical cannabis amendment back in force. The amendment provides essential protection for both patients of medical cannabis and the people who provide them with access to this medicine.

Officials have termed this move as a reaffirmation that the federal government is committed to keep from interfering with state medical marijuana programs. They have called upon the people to use this time to focus ahead in making the medical cannabis programs helpful to many. What is left is to create a framework that will bring both federal and state authorities to cooperate in passing the Carers Act.

Impact on the economy

The re-authorization of this amendment is likely to have a far reaching impact on the economy. With open recognition of this product, the government is likely to start getting revenue out of its sale and related trading actions. Businesses have equally welcomed this piece of legislation with great prospects. Financial organizations are already providing marijuana business funding to merchants who are venturing into this industry.

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Should States Set Their Own Marijuana Rules? Time for Congress to Say Yes

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policymicpicThe US law maker- Congress holds the power to determine laws in the nation. That vested power is currently set to decide whether states will have the sovereignty to make their own marijuana policies.

Different states have made considerable steps toward accepting marijuana mainly because of its medical purposes. Yet the federal government has continued to influence the decisions made in these states. The Constitution empowers the federal government to overrule state decisions.

Constitutional amendment that would free these states to make their decisions independently with regard to marijuana is in the offing. The amendment that is pending voting to a Justice Department should determine the fate of marijuana and the free marijuana states.

Reasons why Congress members need to vote this amendment 

More than half the total states comprising the United States of America currently have laws that allow at least some use of marijuana. Medical use of marijuana is already permitted in twenty three states as well as the District of Columbia. Four other states currently recognize cannabis and regulate its production and sale to all grownups. Washington D.C. for instance has no penalties for any personal use of marijuana. Neither does it punish persons for possession or cultivation of the plant.

Well over a dozen more states allow patients to be in possession of a certain compound extracted from the marijuana plant and used to suppress convulsion. CBD or cannabidiol is an extract of cannabis that has many medical uses in addition to being an anticonvulsant.  Cultivation of the plant in its industrial state (industrial hemp) is permitted in almost half of all the states.

The federal government still has the powers to prosecute an individual found with marijuana even if their state allows the medical plant. This is causing controversies and is reason enough for the US Congress to now draw a definite line with this plant.

Amendment of the current law would allow the states in which cannabis is now permitted and their residents to implement their marijuana policies free from interference of the federal government. People found in possession of the medical marijuana will not be prosecuted by the federal government if they come from states where marijuana is legal.

Even a better reason for Congress to approve the said amendment is the fact that the general public has become more supportive of marijuana. A good majority have testified for its medical effectiveness. The same opinion is shared by the business community. Payment processors are already offering Marijuana Merchant Processing services.

Hopefully, these reasons will dawn on the US Congress and make the members vote in favor of the amendment.

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Legal or Not, Big Banks Say No to Big Cash From Marijuana

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A lot of one hundred dollar bills in a bag isolated on whiteAfter a long time of legal battles to have medical marijuana legalized in the US, the nation has finally given a green light to have this business recognized. This means heavy cash in the hands of the people. When you have such volumes of cash, what do you do with it? Take to the banks. Interestingly the America’s big banks don’t want this cash.

Merchants of both medical marijuana and the recreational cannabis have been contending with a serious predicament. They have had to conduct their businesses almost entirely in cash. The reason for this being the fact that it is exceedingly hard for them to open and operate bank accounts. They can thus not accept and deal in credit cards.

The US Treasury Department through its financial-crimes arm is trying to make it easier for marijuana merchants to deposit this young industry’s growing revenue. The latest count approximated this revenue at around 3 billion dollars every year. All of it is almost entirely in cash. As a way to effectively tap taxes out of this revenue base, the government intends to use the country’s major financial organizations. This way it could keep the cash out of the way of organized crime.

There is a problem with the targeted banks though. Even though the government feels that their strong compliance departments are strategic and could help track this money, most federal bank regulators have so far remained silent on the subject.

This has created uncertainties regarding what is likely to happen to banks should they accept this cannabis cash.  The banking industry is therefore confused about what to do. On one hand there is quite a lot of prospect given the 23 free marijuana states together with the District of Columbia are flooded with hard cash awaiting banking services. On the other hand it is unclear what the regulators are holding up their sleeves.

Crucial decisions need to be made fast. Otherwise the marijuana merchants may have to consider only the alternative marijuana payment processing bodies to help them out with safeguarding the cash. In that case the government problem regarding taxation and how best to tap revenues from this industry remains unsolved.

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House Votes to Protect Marijuana Merchants

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Medical marijuana in large jarThe federal government and marijuana merchants are usually on opposite sides of the aisle when it comes to agreeing with, well, almost anything. Luckily, for the second year in a row, the Republican-held House of Representatives voted to protect legalized marijuana merchants from federal interference in states where the drug is still illegal. This “legalized” marijuana only concerns medical marijuana, which could leave a few states in a jam.

While this resolution blocks the Justice Department – including the DEA (Drug Enforcement Administration) – from using federal money to undermine legalized medical marijuana merchants, legalized recreational merchants are in limbo. While certain states (Alaska, Colorado, & Washington State) have legalized recreational marijuana, the possession, growing, packaging, and selling of any type of marijuana is still a federal crime. So, even though the state may not pursue charges, the federal government can if they see fit. According to the United States Supreme Court, federal laws typically trump state laws when they are in conflict.

If you are an existing, or soon-to-be, medical or recreational marijuana merchant, you need to make sure that your marijuana payment processing account is secure. “Secure” not only from hacking’s, but from improper searches. While marijuana payment processing is hard to find, not all that advertise their services are up to par with the changes that are constantly taking place in the industry. This is a tough and tricky industry, and it takes a smart and dedicated processor to help you find success. Some are “fly by night” processors, who hop into the field due to its lucrative nature, but quickly flee when things get tough. You need to make sure that your processor is experienced and knowledgeable, such as “Marijuana Merchant Account”. Processors like MMA have years of experience, knowledge, and the reputation to get you where you need to go in the legalized marijuana industry.

There is a difference in the workings of medical and legalized marijuana merchants, and few processors know this. Experienced processors know that while the industry have its ups and downs, it is a worthy cause for all involved.

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Banks Get Conflicting Message on Pot Funds

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Marijuana and Dollar notesEveryone knows that the legalized marijuana business is a moneymaker. However, marijuana is still illegal in the federal government’s eyes, and they can make the moneymaking ability difficult. Even though three states have legalized recreational marijuana, and others have legalized medical marijuana, state law is often trumped by federal law. While the House of Representatives recently renewed a law that protect legalized medical marijuana merchants from searches, seizures, and overall harassment from the feds (and DEA), but this leaves out one important issue: the banking issue.

The federal government regulates the banks, which may lead merchants to believe that banks should not be allowed to accept funds from legalized marijuana merchants. However, the feds and banks are sending mixed signals. The biggest new line of business for America’s biggest banks is, in fact, the legalized marijuana industry. While many believe the industry to be cash-based, and in certain aspects, it is, many choose to find marijuana payment solutions, such as the options offered by MMA. This helps keep your accounts safe from fraud. For instance, if a fraudulent charge hits, your processor and bank can help figure it out. If you are a “cash only” business and are dealt fraudulent bills, there is nothing you can do about it. “Cash only” businesses are also risky, as they are often targets of robbery.

Banks are now required by the feds to file “suspicious activity reports” on each customer. While intrusive, this can help keep businesses safe, and categorized better. Typically, marijuana payment solutions and their clients are considered “high risk” to the banking industry. This new system can help keep customers, merchants, and the entire industry safe and in check. However, while this idea is floating around, many big banks are not biting yet. They find that the risk is too big, especially due to the fed’s ability to override any state laws regarding the legalization of marijuana in any form. The best thing for all legalized marijuana merchants is to make sure that their marijuana processing solution is educated and up-to-date with all information and changes regarding the industry.

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