Marijuana is a big tax builder for California, and some new law changes can make it an even bigger tax booster. The tax in Prop 55 is not new, but is an extension of a temporary tax increase approved by voters in the last election when they voted for Prop 30. Prop 55 would extend that tax by 12 years, but only for Californians earning more than $250,000. It’s estimated the tax would generate between four and $9 billion a year for public schools, and $2 billion dollars a year for health care for low-income patients.
So, that’s good right? Right, but it could be more. And with more legal issues in the way it could be a long road before the numbers are met. However, it can be met with a major blow to another filter-tipped friend: The cigarette. Prop 56 would also help fund the state’s Medi-Cal program by hitting cigarette smokers where it hurts most – their wallets. The measure proposes increasing the tax on a pack of cigarettes from 87 cents by $2 to $2.87. So, it could be adding tax revenue to the state and help curb smoking.
But let’s be real: It probably will not totally cut out cigarette smoking. The cigarette tax in NYC is over $4, and people still buy them. But, legalized marijuana is a whole other game. Not only is it for those who want a stress reliever, but it is also for those with medical issues who want a natural remedy. And pot seems to be a great natural remedy.
Merchants still need to be careful, because even if these taxes are totally enacted, there will be even more strain on marijuana businesses. You need to make sure that your business is following the state laws, county laws, and city laws as they relate to your business. You also need to make sure that you have a marijuana merchant account provider that understands your industry. This not only can help save your business from violating any laws, but it can help it from losing money from a merchant account provider who doesn’t know how your industry works.
Colorado’s legalized marijuana sales in 2015 may have hit two major records. While the numbers are not yet certain, the Colorado Marijuana Enforcement Division believes that the legalized products brought in over $900 million in 2015, doubling 2014’s numbers. The other big number belongs to the tax revenue for the state that the marijuana sales brought in 2015, which is upwards of $80 million. These numbers alone should legitimize the industry, but many still are wary of it.
Legalized marijuana has brought a lot of changes to the twenty-two states have offer it. From increased tax revenues, to less drug crime, to more creative pot products, the changes are endless. Other issues were not great, such as the lack of trained employees and lack of 
Many are declaring 2016 the year of the “Green Rush”. There is no year leading up to this one that has offered as many promises for marijuana legalization. At the moment, 14 states have the potential to legalize MMJ, adult-use cannabis or possibly both. This positive change is due to other pioneering marijuana markets and the growing support for cannabis in general.
For everything under the sun, if state and federal law contradict each other, the Feds win. However, new court cases are challenging this rule, and the cases involve marijuana. Legalized marijuana merchants have a tough time finding everything from funding to marijuana payment solutions, so state law typically helps these merchants. However, the banks are held close by the Feds, so you see why this is a problem. With preemption arguments about to open, will the marijuana industry set precedent for other types of conflict in the courts?
For the last few years, marijuana merchants have searched for legitimate payment processing solutions. Even businesses headed by experienced entrepreneurs with solid business plans have been rejected by banks and other financial institutions. Now cannabis companies might find banking solutions with Native American tribes. A new company called CannaNative, is currently negotiating with tribes in the western U.S. to bank with marijuana companies.
While some in the media – and well-paid lobbyist – want to convince you that pot is evil, our police have a different take on the drug. The DEA released its annual survey of law enforcement officers from around the USA, and found that marijuana is the least of their drug worries. Literally, the least, as it came in last with only 6% of the surveyors saying that it was. While marijuana has never been at the top of the list, it was in the middle in the early to mid-2000s. While consumers have a relaxed view on pot, it’s interesting to see that it isn’t the biggest worry for police, and this could have an overwhelming effect on the government and its stance on the drug.
