Investor Group ResponsibleOhio Aims for Recreational Marijuana Amendment for November Ballot

Posted on March 24, 2015 by admin

Progress is being made in the state of Ohio towards an amendment that would legalize recreational marijuana. The pro-recreational marijuana organization ResponsibleOhio has raised $36 million towards getting the amendment onto the November ballot for 2015. The group aims to craft the amendment to allow 10 commercial growing sites within the state to provide cannabis for the recreational market. These 10 commercial sites would be owned by investors supporting ResponsibleOhio’s campaign.

ResponsibleOhio cites the state’s wasted money in failed anti-drug enforcement as one major reason for alternative solutions. Ohio spends over $120 million each year on drug law enforcement that is ineffective against the casual marijuana user. The group also claims that a recreational marijuana industry would create jobs, increase safety of marijuana users, and offer more freedom to Ohioans.

Jump starting the fund raising process isn’t the only roadblock for investors. The amendment has already been turned down once by Ohio Attorney General Mike DeWine once. ResponsibleOhio changed their proposal per DeWine’s advice and, if approved, will need to be deemed acceptable by the Ohio Ballet Board. Finally, over 300,000 signatures must be collected from Ohio voters before July 1st. If these requirements are met, the amendment would be included in time for the November ballots.

Aside from the difficulties getting it onto the ballot and legalized, any potential merchants in the recreational marijuana industry in Ohio would need to navigate the discrepancies between state and Federal law. Banks rarely process credit and debit payments for marijuana businesses due to legal risks facing the business. This causes most marijuana merchants to seek out specific marijuana merchant accounts from other merchant service providers.

ResponsibleOhio’s aims to have an amendment in place in time for November balloting clearly have the support of investors. With $36 million at their disposal, hopes for getting the bill in place and ready for Ohio’s 11.5 million residents improve. Obstacles and road blocks remain, but the investor groups backing ResponsibleOhio clearly mean business. If approved, Ohio would be well on its way to being the next state to open itself to the profitable recreational marijuana industry.

We’re ready to help with your marijuana merchant account, when you are.

Colorado Revenue Report Shows Growth in Recreational Marijuana Market

Posted on March 24, 2015 by admin

The Colorado Department of Revenue released its annual report on the nation’s first market for recreational marijuana products. Alongside Washington, Colorado was the first state in the US to legalize recreational marijuana. Of course, the discrepancy between state and Federal laws still create difficulties for merchants, but the market is growing at an impressive rate. According to numbers from the report, almost 150,000 pounds of cannabis flowers were sold last year. An indication of a healthy and growing market.

During the 2014 year, the number of licensed businesses for recreational marijuana doubled from 400 to over 800. Of course, the term ‘businesses’ in this context is comprehensive of retailers, cultivators, testing laboratories, and infused product manufacturers. The healthy market is growing competition at a healthy rate as merchants continue to capitalize on this in-demand market. The number of medical marijuana dispensaries also increased, though at a much smaller rate.

However, despite the increase of businesses receiving licenses, the medical marijuana market still vastly out reaches that of the recreational market in the state of Colorado. Of the nearly 150,000 pounds, approximately 100,000 still belonged to the medical marijuana market constituting two thirds of the entire supply within the state. The disparity comes from the established nature of the medical market compared to the state’s brand new recreational industry, pioneering not only the state but the nation as a whole. The disparity isn’t helped by the disparity between state and Federal laws either.

Due to marijuana still being banned by the Federal government, the industry remains high risk for merchants. Finding a bank to accept and handle a merchant’s marijuana payment processing remains next-to-impossible. This forces many merchants to find payment processing to avoid being a cash-only business in alternative places that do not balk at the legal risks associated with the industry. As long as the difference exists between state and Federal law, merchants will always be under threat of overzealous Federal prosecution, and therefore banks and traditional financial institutions will back away from providing payment processing for credit and debit transactions.

Colorado is more than an experiment for the functionality of recreational marijuana markets. The growth and success of the Colorado markets indicate that the market may be here to stay. As merchants find more alternatives to the complications and difficulties of doing business, businesses will continue to grow as the recreational marijuana industry continues to develop past its infant stages.

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Michigan State Corrections Officers Testify Marijuana Helps With Pain

Posted on February 28, 2015 by admin

In a twisted case that turned police against their own, three corrections officers were accused with illegally using marijuana butter, although they legally secured state medical marijuana cards in Michigan. Three corrections officers in Kent County were using marijuana butter infused brownies to alleviate pain. Corrections officers say Marijuana edibles were a better alternative to the prescription medications that the officers were prescribed. The Michigan Medical Marihuana Act allows a patient to have up to 2.5 ounces of dry marijuana while butter or edibles are not included in the act.

In 2011-2012 the officers started using marijuana butter infused edibles as an alternative to prescription medications to help alleviate pain. Little did they know, in July of 2013 the Michigan Court of Appeals ruled that concentrated forms of marijuana, such as butter, were no longer included within the laws of the Michigan Medical Marihuana Act (MMMA). The officers had no idea the MMMA had changed and continued to use their method of treatment to help pain according to attorneys. In March of 2014, the officers’ homes were raided and drug charges were filed.

After the incident, the third corrections officer, Timothy Bernhardt, plead guilty to numerous drug related charges. With no chance of returning back to his career and having to testify against his fellow officers, Bernhardt was found dead in his home on November 16^th 2014, ruling the death as a suicide.

The ongoing trial with the other two corrections officers, Mike Frederick and Todd Vandoorne, contend that they have done nothing wrong. VanDoorne had neck pain and had to fuse vertebrae together in 2010. He was initially prescribed painkillers, but made him sluggish and angry.

Stating the positive benefits of marijuana he says, “The medical marijuana was excellent, completely different from the narcotics. I could still do things, still carry on daily chores”. Frederick, the other corrections officer with the marijuana charge, has complications from diabetes and has neuropathy problems which causes the muscle in his legs to severely cramp. The use of medical marijuana greatly reduces body aches and pain.

With medical marijuana being touted as the better and safer alternative to prescription painkillers, advocates for marijuana have sprung up more than ever all across the United States. With proper certifications, many people are legally buying medical marijuana according to state law. If you plan on opening a marijuana shop in your city you will need a marijuana merchant account. Go to marijuana-merchant-account.com to work with industry professionals and get your store up and running and start accepting credit and debit cards for your business. Evidentiary hearing is expected to continue and more testimony is expected from Frederick and Vandoorne. Following state laws can avoid any legal issues. With a pending appeal on their case, the state Supreme Court will decide on how to handle the matter in the coming days.

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Veterans Press VA in order to Secure Medical Marijuana Treatment

Posted on January 29, 2015 by admin

The struggle continues for those in need of medical marijuana. While states continue to legalize the substance for medical and even recreational use, it still remains illegal on the federal level. The federal government still classifies marijuana as a Schedule I drug – the same as heroin and LSD. This leaves the substance with the label of being unacceptable for medical use and with a high potential for abuse.

A new group of individuals have stepped forward to voice their support for the legalization of medical marijuana and have gone as far as drawing up a petition. According to an article by Emily Eax-Thibodeaux of The Washington Post, Scott Murphy, a retired Army specialist and now head of the Veterans for Safe Access and Compassionate Care has been in the process of compiling a petition. This petition asks that marijuana no longer be classified as a Schedule I drug.

Veterans have been lobbying for more states to legalize medical marijuana, but the real focus is to convince the federal government. At the moment, physicians and chronic-pain specialists are prohibited from prescribing medical marijuana, even if it would be for those suffering from PTSD or other pain-related issues.

While some veterans are able to obtain the substance where they live due to the recent push for legalization in some states, it still remains an extremely sensitive issue. It has now become a culture of “don’t ask, don’t tell”. However, this culture has given many people reason for concern. It has created a dangerous situation in which marijuana has been legalized and doctors do not know what all medications their patients are using.

According to a study published in late 2014 by the journal JAMA Internal Medicine, it was reported that “people already taking opioids for pain may supplement with medical marijuana and be able to lower their painkiller does, thus lowering their risk of overdose”.

Putting the best foot forward, those lobbying for medical marijuana are determined to show that they wish to do things the right way. They are not wearing tie-dyed shirts with a marijuana leaves; instead, they are wearing nice suits and presenting the substance as an alternative to becoming addicted to drugs and risking overdose.

Some veterans have described it as an “exit drug” – a means of dealing with experiences and calming the nerves and effects on their bodies and minds that have come as a direct result from those experiences. Those who support veterans needs and concerns with this drug wish to do further testing, but their abilities to do so are extremely limited due marijuana still being illegal on the federal level.

For those businesses that are struggling to find funding because of the substance still being illegal on the federal level, there are options out there. Marijuana merchant accounts can provide the answer to payment processing and funding woes. With marijuana-merchant-account.com, payment solutions are hassle free, and the application process is simple. You can expect to have your funds quickly without the endless documentation requests and requirements.

For more on Medical Marijuana and Marijuana Merchant Accounts, contact us by clicking below…

Amendment Passed for Medical Marijuana, Feds No Longer Involved

Posted on January 29, 2015 by admin

Congress approves amendment to prevent DEA from raiding state-legal medical marijuana dispensaries. State funding will be allocated to other issues and crimes that need attention. This is the first time in history that Congress has voted in favor to end the war on medical marijuana patients and providers. 49 Republicans and 170 Democrats have approved this historic amendment, officially declaring an end to the war on medical marijuana.

The amendment on the federal spending bill blocks the Department of Justice from using money to prosecute medical marijuana patients and dispensaries under state laws. Patients can now have access to the legal care they need without the fear of federal prosecution. Federal dollars will be spent more wisely by focusing on more serious crimes. This historic move towards a more sensible marijuana policy demonstrates U.S. ability to keep current with changing times.

The measure was particularly passed because it received a large support from Republicans than it did in the past. An astounding 49 Republicans voted for the amendment showing clear evidence that marijuana prohibition will soon be obsolete. The change finally provides a peace of mind for marijuana patients from all the past dealings with Congress.

In the past, the DEA raided marijuana dispensaries, arresting people who were abiding state laws but going against federal law. This served a huge controversy patients who relied on medical marijuana to treat their various disorders. More work is to be done before marijuana is legalized federally. Advocates are working towards a proposal known as the “Sates’ Medical Marijuana Patient Protection Act” which takes marijuana off the list of Schedule I controlled substances. Substances that are in that category are LSD, heroin, and other drugs with “no currently accepted medical use.” With continuing research on marijuana and its medicinal purposes, it’s on the right track to become legal.

Many medical marijuana dispensaries can now relax a bit and not have to worry about the Feds coming after them. If you are interested in opening a dispensary, first start by creating a marijuana merchant account and start accepting credit/debit card payments. marijuana-merchant-account.com specializes in marijuana merchants and has industry knowledge on what is needed for fast and easy set up. 2015 is the year for big changes in the Marijuana industry and as more people are accepting its natural and medicinal purposes, many people are open to the option of trying it for themselves.

If you’re in the Marijuana Business and need payment processing solutions, contact us today!

Marijuana Legalization Brings a New Need for Further Research and Caution

Posted on December 19, 2014 by admin

The success of marijuana initiatives has revealed that the nation’s feelings towards the idea has softened. Even though only four out of the fifty states have legalized recreational use, voters have displayed that their opinions on marijuana no longer fall along partisan lines.

Sixteen years ago, California led the way by making medical marijuana easier to obtain than a prescription drug. Dozens of states have now legalized the use of medical marijuana, while Colorado, Washington, Oregon and Alaska have legalized recreational use.

It would seem that the push for marijuana will go marching on, despite the fact that it is illegal on the federal level. In fact, it is considered as dangerous of a drug as heroin. Surveys have revealed that half of American believe it should be legalized while 75% think that it will happen in the future.

However, no one seems to be stopping to consider the dangerous of legalization. Because marijuana is technically illegal on the federal level, no scientific tests have been done to determine whether or not it is safe for it to become legal on the state level.

According to an article by Sandy Banks of the Los Angeles Times, “Researchers comparing the brains of ‘chronic’ marijuana users (who smoke at least four times a week) with those of people who never light up found pot smokers had less gray matter in a region of the brain that influences decision making, and they had significantly lower IQs than their nonsmoking counterparts.”

With more than a million people in the United States legally using marijuana, it is time to consider regulations on cannabis. In addition to not knowing what the exact long term effects are on the user, young people are ending up in emergency rooms from accidental consumption of what they thought was candy.

Considering the business implications, there is still a high risk to running a business in this industry. In order to safely process payments and operate efficiently, marijuana merchant accounts are still the go-to option. With the questions that still surround the industry, marijuana merchant accounts are just the tool you need to operate successfully.

For a Marijuana Merchant Account contact us today!

The Tobacco, Pharmacy, & Alcohol Industry Trying to Enter The Marijuana Industry Might Just Be a Good Thing

Posted on November 21, 2014 by admin

Here comes the new kid on the block. Her name is Marijuana and she’s oblivious to the other guys on the street. She just wants to say hello and be accepted, but Tobacco, Pharma, and Alcohol don’t see a friend, they see competition and they want a piece.

Sales have declined for the Big Tobacco industry rapidly as living healthy lifestyles has become a trending concern. To compensate their losses, the tobacco company is taking notice of the burgeoning marijuana business and want to incorporate themselves into the business to get a piece of the pie. It goes same for the pharmaceutical and alcohol industry. As more people are becoming dependent on marijuana to aid them in pain and relaxation needs, The Tobacco, Pharma & Alcohol industries want to get in on it. The old saying goes, “If you can’t beat them, join them” and it couldn’t be any truer. In my personal opinion, I would welcome them with open arms and not see them entering as a threat, but a chance for the marijuana industry to be more widely accepted as a drug that’s on the same playing field as Tobacco, Pharma, & Alcohol.

Do you know who runs the United States? Corporate America does and with the Tobacco, Pharma, and Alcohol entering the marijuana industry it will eventually reach political decisions to support marijuana use. It will happen more or less a decade from now, but I believe it will happen and the first people to realize this and capitalize on it will be happy they did.

It’s clear the marijuana industry is here to stay and its obvious that other industries will try to capitalize on it. Only time will tell, what the other industries will do to take get part of their share.

If you’re ready to enter the MMJ Industry and in search of a marijuana merchant account, contact us today!

4 States Legalize Marijuana

Posted on November 17, 2014 by admin

Currently just four states have taken the step forward and allowed the recreational use of marijuana; it is no longer a criminal offense to use the drug if you are over 21.

This will allow businesses to grow and develop, to take part in this potential profit making business. It is important that you understand the requirements set out in the state you live, because some rules are different. For example in Washington they chose not to bring in the legalization of selling the drug, however you are able to grow your own.

Unfortunately, Florida didn’t manage to push through legislation for the use of medical marijuana this time; it missed the mark by just a few votes.

With 23 states now able to allow the use of medical marijuana, it might not be long until this increase to other states who understand the importance of allowing an individual to decide if they want to use a drug, which can help relieve the pain and suffering of many different conditions.

Running your own business in the field isn’t as difficult as before, there are now more options to consider when it comes to the merchant account provider who will allow your customers to pay using their credit and debit cards.

Applying for a marijuana merchant account is possible; it is a high risk business and you will need to consider this when you apply, it doesn’t mean that you should expect excessively high charges or payment terms that you don’t agree with.

There are many business regulations and licences that you would need to apply for first, and while many people think that this is easy money, it is not. There is a lot of hard work involved and in some states it is not possible to set up a normal business, it needs to be a non-profit business.

There are also differences in business that you can claim back as part of normal expenses and others you have to fund yourself. It can get very complicated as to the amount of federal tax you have to pay. Understanding all these restrictions is key in making a successful business in the marijuana field.

For a Marijuana Merchant Account, contact us today!

Grow Your Own Marijuana in the Nations Capitol!

Posted on November 17, 2014 by admin

Washington D.C has voted against keeping marijuana as an illegal drug to use for recreational purposes. They have voted in favour of people being able to use and grow their own drug; unfortunately, they have yet to agree to the sale of the drug.

This is going to have an impact on the reason why the federal government chooses not to reclassify the drug and continues to class it as a Schedule 1 drug.

If there are no problems or objections, the hope for the new legislation will come into effect at some point in 2015. In the meantime, it is still possible to go down the route of medical marijuana, for the relief of a number of medical conditions.

It is possible to set up a legal business in one of 23 states, who supplies and grows marijuana for sale to those individuals who have a medical marijuana card.

These businesses are high-risk; however, it is still possible to open a marijuana merchant account. This will give your customers the ability to pay for the goods you provide in a convenient form, like credit or debit card.

Previously, it was a cash based business and this meant higher risks for staff and storing the cash. Allowing businesses to grow and develop by offering the ability to have access to a merchant account and the services they can provide, will improve the economy with the business development.

The aim of the change of law has some elements to stop racial discrimination, with a high number of arrested people being black. It will also have a positive impact on society, because it will reduce the number of arrests and prosecutions for a drug that is less harmful than other legal drugs, including alcohol and tobacco based products.

Fewer arrests relating to marijuana will have a positive impact on the reduction in costs relating to prison terms for this drug and could improve the chances of users of marijuana getting employment and stability in their lives.

Saving money is key to improving the local economy and if Washington D.C can take a positive move forward, then this makes the way for other states to follow their example.

Contact us when you’re ready to open your dispensary

The Third State To Legalize Recreational Use Of Marijuana

Posted on November 17, 2014 by admin

Oregon has taken the step forward with marijuana. They have legalized the use of the drug for recreational purposes; the third state to make the stand against the inaccurate view of the drug.

Oregon is following the lead from Colorado and Washington who legalized the use of recreational marijuana back in 2012 and expected to see an increase in the economic revenue of up to $800 million by 2020. This is great news for the economy and the businesses that have grown in this industry.

A few states have legalized recreational marijuana. However, 23 states have legalized the drug for medical purposes.

It is possible to find a medical marijuana merchant account who are prepared to take the risk that many banks are unwilling to do. This is because while states have legalized the use of marijuana, either for recreational or medical reasons, the federal government has not. They still class the drug as a Schedule 1; this is the same class as some of the harder, addictive and life threatening drugs.

It is still possible for federal law enforcement to take legal prosecutions of those businesses and individuals who have the drug or who supply the drug, putting some of the bigger financial institutions in a position where they are unable to provide any type of services to legal legitimate businesses.

Starting a legal business in marijuana is possible and finding the right services that meet your needs is key to your success and ability to grow and develop. Being labelled high risk doesn’t mean you won’t find a merchant provider that will allow you to accept payment options from your customer’s, giving them greater access to your products by having a choice of payment options to suit them.

This change in the law in Oregon will improve the local economic growth and will improve the financial position of the state long-term, making the decision the right one in the current economic position of the whole of America.

Therefore, whilst Oregon is the third state to accept the recreational use of marijuana there are others considering this move too, unfortunately Florida’s vote failed to hit the numbers required to make the move to legalize medical marijuana.

MMA can set you up with your medical marijuana merchant account in as little as 48 hours!

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Tag Archives: marijuana merchant account

Investor Group ResponsibleOhio Aims for Recreational Marijuana Amendment for November Ballot

Colorado Revenue Report Shows Growth in Recreational Marijuana Market

Michigan State Corrections Officers Testify Marijuana Helps With Pain

Veterans Press VA in order to Secure Medical Marijuana Treatment

Amendment Passed for Medical Marijuana, Feds No Longer Involved

Marijuana Legalization Brings a New Need for Further Research and Caution

The Tobacco, Pharmacy, & Alcohol Industry Trying to Enter The Marijuana Industry Might Just Be a Good Thing

4 States Legalize Marijuana

Grow Your Own Marijuana in the Nations Capitol!

The Third State To Legalize Recreational Use Of Marijuana

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