Nevada Supreme Court Push to Settle Marijuana Distribution Battle

Posted on October 9, 2017 by admin

Nevada sign with marijuana leaf The legal battle over who can transport recreational marijuana to Nevada’s cannabis shops continues. Earlier last week, the Nevada Supreme Court issued a temporary injunction against the state’s newfound marijuana market; the state Department of Taxation is now unable to license marijuana businesses as distributors.

A request by the Tax Department for the temporary injunction sought by alcohol distributors was denied by the Supreme Court. The court also rejected the Independent Alcohol Distributors of Nevada’s request to dismiss the case. So, the big question remains: will other businesses have just as much right to transport recreational weed to retail facilities as the alcohol trade?

The Nevada Supreme Court has placed this hold on distribution until it can hear oral argument from both sides. This hearing to settle who is allowed to distribute recreational cannabis is scheduled for the beginning of October 3 at Boyd School of Law at UNLV. This legal battle has been going on since June – when liquor distributors sued to stop the licensing of marijuana companies to do their own distribution – and neither group is showing signs of giving an inch.

According to the Las Vegas Review Journal, “Alcohol distributors argue that they have the exclusive right under Question 2 to distribute recreational marijuana from grow facilities to retail establishments for 18 months. The Tax Department found that the liquor industry was unable to fulfill the distribution demands so it had to license other companies.”

This issue has already had negative effects on the marijuana merchants and the market as a whole. With all the legal snags, the state’s overall cannabis supply has suffered. So much so that Governor Brian Sandoval issued a Statement of Emergency over the summer to try and boost distribution of recreational marijuana to avoid people resorting to the black market.

Another huge issue merchants and medical marijuana businesses experience is finding payment processing solutions. Marijuana merchants in need of business funding and payment processing can find fast solutions with alternative lenders like Marijuana Merchant Account (MMA). Specializing in this industry, MMA can provide funds in as little as 24 hours. The “high risk” nature of the industry is not a problem.

The expectation is that this legal battle will be resolved by the end of this year, which will hopefully improve the atmosphere for all parties involved – including marijuana merchants.

New Study Says Rise in Marijuana Use is Not the Result of Legalization

Posted on September 29, 2017 by admin

unnamed The use of cannabis in the U.S. has been increasing rapidly over the last decade. However, you might be surprised to hear that it is not because of legalization. A recent study in the journal Addiction confirms that the growing number of state laws and pro-pot policies – that allow legal use of both medical and recreational marijuana – are not the reason behind increased usage.

“Marijuana policy liberalization over the past 20 years has certainly been associated with increased marijuana use; however, policy changes appear to have occurred in response to changing attitudes within states and to have effects on attitudes and behaviors more generally in the U.S,” the report says.

To arrive at this information, researchers from the Public Health Institute Alcohol Research Group analyzed data from National Alcohol Surveys. Following this research, the changes in marijuana use was compared with changes in state laws. Even though 29 states and Washington D.C. have either medical or recreational laws in place, the increases in use were “primarily explained by period effects.” These “period effects” refer to societal factors that affect populations across age and generational groups.

“It only makes sense,” says The New York Times. “Policy changes occur with changing tides, and the societal tide change in how we view marijuana as a culture has become a mainstream phenomenon.”

The findings of this study are being used to support the argument for continued legalization. Many hope that this assessment of the national temperature on the subject will encourage more acceptance and boost the marijuana industry. Operating within this industry is still incredibly challenging for those brave enough to battle the endless obstacles. For example, merchants are still unable to secure the payment processing they need to operate safely (many are forced to operate in cash).

Full Service Payment Solutions for the Cannabis Industry

With Marijuana Merchant Account, cannabis merchants can quickly secure a merchant account and have it setup in a matter of days. MMA boasts a large network of lenders and equity groups, and offers marijuana businesses short term cash advances and capital for expansion. Easily accept all card types (American Express, Visa, Mastercard and Discover) and utilize recurring payments for memberships, discounts clubs and more. You can also accept checks over the phone via MMA’s e-check processing services. The straightforward application process can be completed in a matter of minutes. If your business is struggling to obtain a merchant account or your account has been suddenly closed, consider what a marijuana merchant account can do for you.

Medical Marijuana Industry Welcomes Season of Growth in New York

Posted on August 24, 2017 by admin

Statue of Liberty marijuana leafs vector

To the delight of the medical marijuana industry, it’s a season of growth. The campaign to create a medical marijuana program in New York was a very long, uphill battle. Even when it was finally passed in 2014, advocates criticized the many restrictions imposed. Known for being again the legalization of marijuana, many were pleasantly surprised and relieved when Gov. Andrew Cuomo agreed to sign legislation granting five licenses to grow marijuana. Although, the number of dispensaries in the state was capped at 20.

Since then, Gov. Cuomo administration has made many changes. Home delivery of the drug has is now permitted. Chronic pain was added to the list of eligible conditions, and nurse practitioners are now allowed to prescribe the drug. More than 20,000 patients and over 1,000 practitioners have been registered.

Although he still openly opposes recreational marijuana, Gov. Cuomo has been become more accepting of medical marijuana. In June, the state Senate voted to add PTSD to the list of illnesses and ailments eligible for the state’s medical-marijuana program; this decision came six weeks after the Assembly’s decision to do the same.

On August 1, the New York State Department of Health announced that it had licensed five new medical marijuana companies. This addition doubled the number of firms growing and selling medical marijuana products under the (strictly) regulated state program. The new businesses joining the industry are New York Canna, Fiorello Pharmaceuticals, Valley Agriceuticals, Citiva Medical and PalliaTech NY.

Despite growth, there are still many obstacles to overcome, and plenty of issues merchants are currently struggling with. For example, on behalf of four of the five original companies, the New York Medical Cannabis Industry Association, sued the state to try to stop the issuance of new licenses. The claim was that this issuance was an overreach of legal authority.

According to Times Union, “The association claimed that not only would DOH be overstepping its legal authority by issuing more than five licenses, it would imperil the nascent industry because demand for medicine does not warrant doubling of the supply market.”

Another large issue merchants and medical marijuana businesses experience is finding payment processing solutions. Although medical marijuana is legal in New York, it is still illegal at the federal level. With strict federal regulations, banks won’t touch cannabis businesses. An increasingly popular solution is a marijuana merchant account from an alternative provider like MMA. These accounts allow these merchants to avoid operating in cash-only by providing the ability to process credit and debits cards and e-checks.

Regardless of those who have tried to stall progress, the New York medical marijuana industry is moving forward. Even with the many obstacles, it continues to grow and merchants are finding the solutions they need to grow a thriving business.

Legal Marijuana Growing Rapidly, But Banks Still Steer Clear

Posted on August 18, 2017 by admin

Cannabis leaf scattered on the dollars. Seamless image Next year, billions of dollars are expected to flood the California’s marijuana industry when recreational cannabis is made legal. Even so, these businesses will struggle to secure the services they need with their local banks. But why would such a profitable industry with so much potential experience issues securing solutions with a traditional lender?

During the Obama administration, guidelines were issued by the Justice Department that were intended to help banks avoid federal prosecution when providing services to legal marijuana businesses. However, banks remain unwilling to work with these merchants for fear it will expose them to legal trouble from the federal government. According to The Los Angeles Times, an estimated 70 percent of cannabis businesses have no bank accounts.

As of now, marijuana is still illegal on the federal level; the Drug Enforcement Administration classifies it as a controlled substance with no accepted medical use – listed alongside heroin. Thus, federal government heavily regulates the banking industry. The Justice Department is concerned that profits in legal marijuana states could easily be funneled to gangs are cartel. The rules are supposed to act as a shield for banks, protecting against charges like aiding drug trafficking.

From the banks perspective, it can be difficult to be fully confident in determining a marijuana business’ true intentions. Most banks find it a heavy burden to decide whether the business is operating within the law, and therefore shy away from working with these merchants. The risks are simply too high for financial institutions.

There are a few banks and credit unions who are still willing to handle marijuana business’ money, but very few. In 2015, Colorado tried to set up a credit union specifically for the marijuana industry, but was blocked by the Federal Reserve. In another attempt, the Oregon Department of Revenue created a secure office for these businesses to drop off and count cash.

Overall, this situation has created a very unstable, unsafe atmosphere for legal marijuana businesses to operate in. How many industries involve business people walking around with millions of dollars of cash? To get around this problem, some merchants open bank accounts by setting up a nonprofit organization or management companies with an ambiguous, in hopes of misleading banks.

There are much safer and straightforward options available. An increasingly popular solution to this ever-growing problem is a marijuana merchant account. Alternative providers – like marijuana merchant account, also known as MMA – specialize in providing the payment processing solutions and business funding this industry needs. Depending on the business type, merchants can secure either a recreational or medical marijuana merchant account in as little as 24 hours.

While many are optimistic about the marijuana industries future, for now, the safest options for merchants remain either in cash (still extremely unsafe and impractical) or an alternative solution; such as a marijuana merchant account from a high-risk provider.

Illinois Sets the Standard For New Medical Marijuana States

Posted on February 8, 2017 by admin

unnamed When thinking of lucrative medical marijuana states, Illinois may not be the first on your list. However, in the last year Illinois has sold more than $24 million in medical marijuana. Yes – it is all taxed and the state is reaping the massive benefits. So, if everyone reaps the benefits, what is the problem with having legalized medical marijuana?

Well, a lot. First, many still contend that it is untested for medicinal purposes. Others claim that anyone can have a doctor write a prescription for it – especially in states where numerous ailments can be given a prescription (stress, migraines, etc.). For many, the main issue comes from the federal illegality of it all. The Feds still consider pot – in any form – and for any reason – illegal. And that’s fine, except that so many states have legalized it in some form that it is beyond comprehensible to most. And to boot, banks are having a nearly impossible time giving funding to any legalized marijuana (medical or recreational) merchant, since the Feds alo regulate the banks. Bad stuff all around, right?

Right. Except that there are alternatives for marijuana merchants from Hawaii to Illinois. You still need a way to get funds and accept funds, and that would be through a medical marijuana merchant account processor. That’s a mouthful to day – but it is imperative that all medical and recreational marijuana merchants have a merchant account geared toward their industry. There are few who truly understand the legalized pot industry; the ins and outs, the legal issues, the ever-changing environment.

One thing that many legalized marijuana merchants do is have a “cash only” business set-up – and that’s one of the worst things that you can do! Not only does this limit your customer base, but it leaves you open to robbers and you don’t want that. So, instead of taking a huge risk, look for a medical or legalized marijuana merchant account provider, like MMJ. Your customers and employees will thank you for the security and the business growth that the right merchant account provider can make for you..

The Newest Medical Marijuana Craze: Pets on Pot

Posted on February 7, 2017 by admin

high risk marijuana merchant accounts What do you think about when the term “medical marijuana” comes up? Cancer patients? Fibromyalgia? Pets? The latter is probably not going to be one of the first things that hits your mind, but more and more people are turning to legalized marijuana in various forms to help heal and calm their cats and dogs. Does it work? Perhaps – but the idea is novel and it can help boost your business.

Animal lovers who have turned to cannabis-based products to alleviate a host of pet maladies, including seizures, inflammation, anxiety and pain, are reporting similar results. Although they have not been approved by regulators, marijuana-based treatments are being used not only for cats and dogs, but for pigs, horses and domesticated wild animals. From treats and chewable sticks made from hemp to CBD oil that can be given internally, there are many options for pet moms and dads to give to their fur baby.

The Food and Drug Administration has not approved cannabis for pets, in part because there is little research showing its effectiveness. Veterinarians are not allowed to write prescriptions for the products and, in states where marijuana is illegal, are wary of discussing the idea. Last year, a proposed state law was defeated in Nevada that would have made it possible for veterinarians to prescribe cannabis to pets with chronic illnesses. Still, users swear by the products. And that’s what counts, after all.

So, what does this mean for the average marijuana merchant? Well, this gives you a brand new customer base. Every if pet parents are not wanting to light up or vape themselves, offering a natural alternative to help ease their pet’s pain or mood issues can bring you a new bunch of customers. However, you need to make sure that whomever you are getting your goods from is legit – because there have been so many recalls on poorly made and contaminated pet treats. Do your research as a marijuana merchant, and with good product and good marketing your customer base will boom in no time at all.

Tennessee May Soon Have Legalized Pot

Posted on January 13, 2017 by admin

All it took was one trip for a Tennessee lawmaker to decide that legalized marijuana was a good idea for his state. Representative Jeremy Faison said that his mind changed after a trip to Colorado a few months ago. Since neighboring state Georgia has legalized CBD oil for medicinal use (for certain ailments), he wants his state to be next in line. This is a great idea – but with all great ideas, this isn’t going to be an easy task.

Rep. Faison visited grow farms in Colorado to see how the goods were grown and processed, as well as visited pharmacies. He also met with veterans with PTD, who after moving to Colorado and taking the oil began to live normal lives without fear and panic. This is great – and PTSD isn’t the only issue that can be aided by CBD oil. Depression, fibromyalgia, migraines, and epilepsy can all be treated successfully with CBD oil.

So, what’s the problem? Well, it’s two-fold. First, pot in any form is federally illegal. Second, merchants will have a hard time finding a marijuana merchant account through most merchant account providers, thanks to the Fed’s stance on the drug. Banks are regulated by the Fed’s as well, hence the problem. So, you need to look for a high risk merchant account provider that has experience dealing with medical marijuana businesses. And this is hard to do, since this is a relatively new industry in most states.

You need to look for a marijuana merchant account provider, like MMJ, that provides the best service to your business. With a marijuana merchant account, you can be assured that your information, your funds, and your customer’s information will be secure. The worst thing that a medical marijuana (or legalized recreational marijuana) merchant can do is to be a “cash only” business. You not only limit your chance of expanding your business, but also give yourself a heightened risk of robbery when you advertise as “cash only”. Be safe, and be secure when you employ a reputable and educated marijuana merchant account provider to house your merchant account.

Arkansas Voters Can Decide on Medical Marijuana

Posted on January 10, 2017 by admin

Medical Marijuana Payment Processing With all of the states voting on medical marijuana, either this year or the years’ past, did you ever think that Arkansas would be one of these? A Bible belt state that is one of the most conservative in the US, Arkansas voters will decide in a few short weeks if medical marijuana will be legalized. While this is sure to be controversial, medical marijuana has been successful in over 20 other states – and their governments are reaping the tax benefits.

Even those lawmakers who are against the purpose of the legalized pot agree that the tax revenue is great. While this will not curb illegal marijuana sales, it can help a growing number of people who are turning to green ways of tolerating their pain and ailments. From migraines to MS, and even cancer, many ailments are treated with medical marijuana. So, what’s the problem here? Well, it’s the marijuana itself. In this wrong hands, it can turn into a recreational drug. And many fear doctors who will prescribe it for any alleged ailment without proper testing to determine an ailment. Well, these doctors do exist – but they are few and far between.

Another issue comes with merchants themselves. Merchants need a way to process payments, and without a good marijuana merchant account, merchants are basically out of luck. That being said, not all marijuana merchant accounts are alike. Before you sign on the dotted line, you need to make sure that your merchant account provider actually understands your industry. This is a big issue with state-based merchant account providers who jump at a new industry – but haven’t a clue about the issues involved.

Yes, all industries have an issue, but medical marijuana and legalized recreational marijuana businesses have more than the average “high risk” business. One big issue is the lack of banking support, thanks to the Fed’s classification of any type of marijuana as illegal. So, you will need an educated merchant account provider to help you find the right sources to help your business become the best that it can be.

2016 Will Be Medical Marijuana’s Biggest Year With Marijuana Payment Processing

Posted on March 3, 2016 by admin

Indoor Marijuana Grow Room with Plants in Soil Under Lights While legalization of marijuana in many forms – and in many states – garnered over $5 billion dollars in 2015, the sums are expected to grow for 2016. More unique products are being created, and the stigma that once surrounded reefer is slowly fading. These changes are helping the industry to boom, even though it is still a federal offense to sell, grow, or possess it. The Feds are hating this legalization, but they must be loving the taxes that the government is gaining from these sales.

With 23 states and D.C. allowing medical marijuana and four states — Colorado, Washington, Oregon, and Alaska — plus D.C. legalizing pot for recreational use, sales are bound to keep creeping up. Combine that with Colorado’s legalization of Cannabis Oil for multiple illnesses, which is bringing a mass of children and their parents to the state for its use. While $5 billion may not sound like a lot for one product to bring in, let us put that into perspective with other products. For example, McDonald’s brings in over $1 billion alone in Big Macs. The iPhone rough in over $1 billion in the US alone last year, as well. Compared to the Big Mac and iPhone, legalized marijuana is hitting the jackpot – especially considering that there is an age restriction and it is sold in less than half of the US states.

New products, such as baked goods and lollipops are helping fuel those who are hesitant to smoke up their greens. While these gourmet products are on the pricier side, they are a growing trend in Colorado. Also, medical marijuana is gaining steam, prompting more merchants to get involved. The problem is the lack of medical marijuana payment processing options available in the USA. This is due to the Fed’s illegal stance on the industry, and the overall chargeback rates of the industry. While tough, it is possible to find a payment processor for legalized marijuana businesses, from medical to recreational. The key is to look for a processor who specializes in the industry, and not just a generic “high risk” scattering of companies. There are unique risks and challenges to the legalized marijuana industry and it is important that your payment processor is familiar with these issues.

Get Medical Marijuana Payment Processing today!

Prohibition of Medical Marijuana is a Win for the Black Market

Posted on February 2, 2016 by admin

weed-tax-revenue-elite-daily It has been 20 years since Californians approved Proposition 215, the medical marijuana policy that allows for growth and distribution of the drug to designated patients. Since then, the growth and distribution of medical marijuana has been controlled by local entities. But it was only last year that the state approved the Medical Marijuana Regulation and Safety Act, a group of bills that attempts to regulate medical marijuana on a state level. The act seeks to control the cultivation, manufacturing and licensing of medical marijuana, but maintains local government’s sovereignty over marijuana businesses, cultivation, and delivery. But an erroneous deadline in the bill allows local governments to ban medical pot cultivation, dispensaries, and mobile delivery. This has made many patients who have depended on the drug for treatment nervous.

The new bills gives local governments without ordinances relating to the cultivation of medical marijuana, the ability to do so until March 1, 2016. After that, the authority goes to the state. The deadline has sent some local governments scrambling to enact any type of regulation. In fact, dozens of governments have now imposed bans on medical marijuana cultivation. Last month, Paso Robles, Pismo Beach, Calistoga, Merced, and Tustin banned cultivation and/or deliveries. While other cities like Riverside, voted to allow a limited amount of cultivation.

In an open letter to city and county governments, Assemblyman Jim Wood, stated an intention to strike down the deadline and keep regulation in the hands of local governments. Some local governments have indicated a willingness to take another look at ordinances if the deadline is eradicated.

If the deadline is removed, local governments should focus on regulation and not prohibition. According to Americans for Safe Access, an organization that advocates for medical marijuana, bans on commercial or personal pot cultivation hurt patients. Despite the moral qualms that some citizens may have regarding medical marijuana, the reality is that patients are legally prescribed marijuana from a doctor that has determined they can benefit from use. Banning the growth and distribution of medical cannabis will only benefit the black market. As patients lose access to the drug legally, they will seek it out in places much harder to find and control.

Marijuana Merchant Account (MMA) offers a variety of marijuana payment solutions. We are a leading source of medical and recreational payment processing and loan origination. Be ready for state regulation with consumer and government trusted standards that only MMA can provide.

Contact us to open a marijuana merchant account today!

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