Nationwide Support Grows for Legalized Marijuana

Posted on December 16, 2016 by admin

Indoor Marijuana Grow Room with Plants in Soil Under Lights With many states offering up legalized recreational or medical pot on their ballots this week, nationwide support is growing for its legality. According to the Pew Research Center, 57 percent of U.S. adults say the use of marijuana should be made legal, while 37 percent say it should be illegal. Ten years ago just 32 percent favored legalization, while 60 percent were opposed.

Traditionally, young adults have been behind the shift of public support, but now support is rising among millennials and baby boomers as well. Another big factor is results. With more and more of us wanting natural remedies to combat our ailments and illnesses, marijuana is leading the charge – and often with the best results.

25 states, plus D.C. and Puerto Rico offer legalized medical marijuana, and between recreational marijuana and medical marijuana it is on the ballot this week in 9 other states. But, what happens if it does pass? What will change? Well, for one many more Americans can buy their much-needed and much-wanted medical marijuana.

And for merchant, the opportunity to open a dispensary arises. But here in lies the issues. It can not only be hard to get your dispensary opened, but also to get it funded and toy accept anything other than cash payments. Since this industry is still in the “high risk” category, it can be hard to find a cooperative marijuana merchant account provider – but it isn’t totally impossible. You just need to know what to look for.

You need to look for a processor that understands the industry. You need to know that they understand that it is a tough industry, and that the Fed’s still hate it and make it tougher every day for merchants to become successful. You need to know that they are looking out for your best interests – and not just their own financial needs.

Once you find this merchant account provider, you still need to make sure that they truly understand the issues in the business, and that they keep up on all changes that come along.

Summary: More and more Americans are wanting legalized pot. In this article, you will learn how this can benefit merchants across the States.

New Jersey Could Soon Have Legalized Pot

Posted on December 16, 2016 by admin

Training-Dispensary-Staff-Tips Of all the states that have legalized pot of some form on the ballot, New Jersey puzzles some. The vastly Democratic state with a Republic governor may soon has legalized pot. While this state could use the extra tax benefits that legalized pot brings – is the state ready?

One thing that makes New Jersey’s law unique is that you could purchase the pot in cigarette form. Earlier last week, State Assemblyman Michael Patrick Carroll introduced a piece of legislation (A4193) aimed at legalizing a recreational cannabis market that would operate under the same restrictions the state already has in place for people who buy cigarettes. The lawmaker’s goal is make legal weed available in supermarkets and convenience stores, giving cannabis users the same access to the herb as smokers have for their daily vice.

The proposed law really digs into true foundation of what it means to repeal prohibition by not only legalizing the leaf for adults 19-years-old and older, which is the legal age to buy cigarettes in New Jersey, but it would also serve as a reform to the state’s criminal justice system by expunging the records of those people with previous marijuana offenses.

And the latter is great – we can all agree on that. But should it be a separate bill? That is what some are arguing, and it makes a good point. They are two different issues, and may have two different sets of people clamoring their support. While those who are not fans of legalized pot may not be on the sidelines for it, many are in favor of quashing old marijuana charges for those who served their time or probation, and have went on to lead productive lives.

But, will this pass? Perhaps. The state, even though it has a Republican governor, is liberal, and it is surrounded by other liberal states that may soon follow suit. It only takes one state to be successful with one thing for other states to follow along, and New Jersey have pave the way for others to push for legalized marijuana cigarettes and the quashing of old pot charges.

Polls Show that Recreational Marijuana Legalization is Popular

Posted on October 1, 2014 by admin

Polls in Colorado still show that the legalization of recreational marijuana is still popular. The polls show around the same numbers as polls before the legalization occurred earlier in 2014. While polls are often tricky, due to demographics, the fact that the results were pretty much the same is fantastic for the industry. While the sales are booming in Colorado, this could help other states enact their own marijuana legalization.

Until then, there is always the need for more cannabis dispensaries in the states where it is legalized. Business is booming, and it is the perfect time to enter into the business. It seems like a tricky business to enter into, yet you do not need to be a “pothead” to do it. Legitimate business men and women are getting into the game – so why aren’t you?

One of the first things you need to do is to locate a cannabis dispensary merchant account. This can be hard, as very few offer this service. One of the best is simply titled Marijuana Merchant Account, www.marijuana-merchant-account.com. Simple to remember, right? Well, we are at the top of the game when it comes to providing cannabis dispensary credit card terminals. Credit card terminals are a must if you plan to accept credit and debit cards as payment. While you can always just accept only cash, it may deter clientele, who do not want to make a special trip to the ATM before visiting your establishment. So, you need to make sure that your terminals are secure, safe, and up to date. We offer that. We offer the best terminals, security, and software to protect your customers’ information. It has also been mentioned on the news that the Feds are “watching” these businesses. We understand that, and we comply with all state and Federal rules and regulations, as would apply to legalized cannabis dispensaries.

For your cannabis dispensary credit card terminal needs, contact us today.

Colorado Passes New Option of Co-p Banking for the State’s Marijuana Sellers

Posted on May 20, 2014 by admin

Colorado is leading the way in creating the nation’s first state-run financial cooperative designed for marijuana sellers. The goal of this legislation is to give marijuana sellers access to key banking services through the U.S. Federal Reserve. Concerns have risen over how the marijuana industry has been forced to operate mainly through cash. The cash-only nature of the industry makes it a large target of crime.

As of Wednesday May 7, the approval was given by both chambers of the General Assembly when they both cleared their own versions of the bill. For now, the bill has been sent to Governor John Hickenlooper in hopes of obtaining his signature.

There are many reasons for passing this bill. In 2012, Colorado legalized the possession and use of cannabis by adults for recreational purposes. In January of 2014, the first recreational cannabis shops were opened in Colorado. The concern now is that the cash-only nature of the industry will make it difficult for the state to track revenues for tax-collection purposes. In addition to this, owners will have limited access to credit and capital. Further, there is the great risk of burglary due to operating in cash-only.

According to an article by Keith Coffman of Thomson Reuters, “Under the bill, the financial cooperatives would operate similarly to credit unions – without a deposit insurance requirement – and would be governed by the state’s financial services commissioner.”

One obstacle to overcome is the need for the Federal Reserve to approve this plan in order for the industry to have access to Marijuana credit card processing and checking accounts. Even though the Obama administration issued new law-enforcement guidelines in February to encourage banks to do business with marijuana suppliers, banks are still hesitant until changes are made to federal law.

According to Keith Coffman, “The guidance stopped short of promising blanket immunity to banks, and financial industry officials have said they doubted many banks would begin to accept cannabis suppliers as customers without changes in federal law.”

For now, the state of Colorado awaits the approval of several bills by the Governor. There is a bill intended to allocate tax revenues derived from retail pot sales to marijuana enforcement. It also includes a proposal to fund education programs that will urge youth to abstain from the use of drugs. Another bill headed to the Governor’s desk is the bill requesting a limitation on the amount of concentrates found inside cannabis products. With the approval of these bills by the Colorado legislature, the industry now awaits the Governor’s decision.

420 Day in Colorado!

Posted on April 30, 2014 by admin

Well it looks as though Colorado passed yet another vitally important cannabis test last weekend, and yes it just happened to be on target with Colorado’s new recreational marijuana industry.

With Colorado being the first state to legalize recreational marijuana it appears that their annual holiday held on 4/20 went well. Although there were long lines for the Cannabis Cup (which led to a few grumbles) did not led to any real bad behavior among the recreational cannabis consumers that were gathered for the rally in downtown and at other events that were held to celebrate the holiday.

The weekend of 4/20 was everything that the cannabis business had waited for and the cannabis consumers were very relaxed.

The holiday event of course turned out to be very profitable and the Cannabis commerce flowed free. Many recreational marijuana businesses had record sales; which means there was a surge in tax revenue for the state of Colorado.

This was great Public Relations for Colorado’s recreational cannabis industry since cannabis received bad PR in the beginning stages when there were several incidents involving edibles.

There are some individuals who are still against having tens of thousands of stoners gathering at one time, and smoking marijuana freely in public places although authorities did have to issue several thousand citations at the holiday event for public consumption, and some individuals were even taken to detox. Many say this is no different than alcohol-related events. There have always been those who don’t know their limit.

The message the folks of Colorado wants the rest of the world to see is: legalizing marijuana will not create a world of chaos, this is not any different than allowing individuals to drink in a bar/restaurant, or any alcohol-related event and that recreational cannabis users will not gather in large groups to consume marijuana.

Organizers of the rally downtown had a more professional event which brought a more professional side to the event. There were long lines for the vendor booths that sold Leafly and the manufacture CannaEnergy and some of the businesses handed out samples of their products. The atmosphere was very laid back.

Since the recreational cannabis industry is under the microscope due to the side effect of consuming marijuana through candy, cookies, and other means it has caused a black mark on the marijuana businesses as well as the legalization.

Horrible incidents that involve edibles need to be looked at as isolated incidents and they are not directly related to proper cannabis use. There may be possible misuse of the product (this is no different than taking too much of a prescription drug or alcohol poisoning). So the same measures you would take with medicine and alcohol you should also apply with the use of recreational cannabis.

Colorado and other states will need to address some of the issues that are tied to the edibles, and the responsible use of the cannabis users.

But 4/20 in Colorado will not only be marked as a holiday in Colorado. It will also go down on the history books as the first State to allow individuals to openly smoke, purchase, eat, and drink Cannabis in public.

Colorado’s Recreational Marijuana Sales Bigger Than They Seem

Posted on April 15, 2014 by admin

According to recent tax data released by Colorado, recreational marijuana sales increased by five percent in February. Sales reached $15.1 million. While this figure is good it is lower than expected. Though February was a shorter month than January which skews the actual perception of how much sales have grown.

Sales were approximately $539,285 each day in the month of February. This, when compared with $464,516 in January, shows that there was actually an increase of around 15%. This would have created a total of $17 million in February vs. $14.4 million in January, if February wasn’t a shorter month. Making sales a few million higher.

As recreational sales rise steadily and are expected to continue to climb as the year progresses, medical marijuana hasn’t suffered as some previously feared. Sales for medical marijuana rose 12% in February reaching $35.2 million. These figures prove that the recreational market is not impacting the medical market revenues. With medical and recreational markets both growing steadily and not adversely affecting each other the industry stands to increase as the year goes on.

The state collects taxes and fees on both recreational and medical marijuana. In February the state collected $3.2 million in taxes and fees related to the marijuana industry. A percentage of that, $438,253 is connected to a 2.9% sales tax on recreational marijuana and $1.43 million is connected to a 10% sales tax on any retail cannabis transactions including ancillary products related to marijuana.

Also as the dispensaries see increases in their sales it will be important to streamline a marijuana payment processing method to better capture sales and assist customers. Currently cash is the only form of payment accepted in dispensaries though that may change soon with the advent of new applications and technology.

Despite the good figures state lawmakers are holding off on making plans for the funds. As the forecast of the tax revenues could be different than what the various offices initially predicted. Therefore until more information can create a more accurate forecast the finalizing of spending plans for the tax revenues are on hold. Especially as the revenue estimates, created by the governor’s office, that were presented to voters who approved the marijuana tax plan in Colorado haven’t yet been consistent with the official tax report.

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Cannabis Industry Creates a Buzz in New Markets

Posted on March 17, 2014 by admin

The legalization of marijuana has been very profitable for Colorado, and it has sparked a new market for products and services that cater to this developing industry. Being one of the fastest-growing and most lucrative industries, the cannabis market is currently valued at approximately $1.4 billion and is anticipated to grow by 64% in 2014, according to market research by The ArcView Group. This is phenomenal, since pretty much every living human over the age of 21 is a potential customer. This has prompte

These figures trump the estimated revenue from the Colorado Senate. At the end of 2013, the Colorado Senate released a statement that estimated that the state’s marijuana industry could reach $1 billion in sales in the 2014, with recreational sales making up about $610 million of that business. For marijuana advocates, taxes were one of the major selling points of legalization. They have said that expanding the market for the federally prohibited plant could give states money for school construction, health care, substance-abuse programs and public health. Colorado’s legalization measure said $40 million in tax revenue would go toward school construction, and in November, voters across this otherwise tax-averse state overwhelmingly approved 25 percent taxes on recreational marijuana.

While new markets are abuzz with these figures, the taxes alone might be enough to halt them. Currently, marijuana sold legally in Colorado is subject to the state’s 2.9% sales tax, an additional 10% state tax on retail marijuana sales and a 15% excise tax on average market rate of wholesale marijuana. However, that currently is not stopping vendors and newbie business owners from jumping on the marijuana bandwagon. For instance, one of first recreational cannabis marketing agencies in Colorado, Cannabrand, is meeting the needs of this high-demand market. Located in downtown Denver, the founders of Cannabrand are turning their passion about the legalization of marijuana into a business dedicated to helping marijuana shops and companies brand themselves.

The newly legalized marijuana industry is creating a major buzz in Colorado. Besides fueling the needs of citizens looking for a legal high, the revenue and taxes are a great help to the state. That being said, only time will tell if the excessive taxes will be the ultimate downfall for legalized marijuana, or if start-ups and companies such as Cannabrand will outlast the eventual consumer freefall that all businesses take.

Colorado’s Recreational Cannabis Shops Make Millions

Posted on February 12, 2014 by admin

Colorado drew worldwide attention at the beginning of the year when marijuana use became legal, and a swarm of retail marijuana stores opened their doors to the eager public. Although the true figure of the shops’ earnings are not yet known, it has certainly been made clear by numerous indications that they have made an impressive sum of money; enough so that those with marijuana merchant accounts are bound to be very happy indeed.

Earlier this week, NBC surveyed many marijuana retail stores in Colorado, and reported that 18 retail shops paid over $1.2 million in taxes to the state through January 27^th. Clearly, this means that in only their first month of business, these stores made millions of dollars’ worth of sales. Not only this, but according to shop owners, the demand in their recreational cannabis stores is still growing by the second. Plus, NBC made the estimation that the state could potentially collect approximately $100 million in cannabis taxes in 2014 alone. This would equate to hundreds of millions of dollars’ worth of sales.

Many shop owners were present at the National Cannabis Industry Association reception in Denver this week, a lot of whom happy to share their personal opinions on the matter. One owner said that his store, which was opened to the public a mere fortnight ago, had seen sales rise by 300% compared to its medical marijuana revenue before the transition. Another, who opened his store on January 1^st, said that his store has to be closed for a few days per week due to his inventory rapidly running out. Despite this, the store’s revenue has still increased nearly tenfold compared to medical marijuana sales prior to the legalization of recreational marijuana use in Colorado. If this doesn’t signify the sky-high demand, what does?

Although many shop owners are experiencing this amazing revenue in the short space of just a month, it is important to take into account that stores in small mountain areas of the state are probably taking in much less revenue. Plus, the NBC survey results serve purely as an estimate, considering that there are no true statistics on the matter at this present moment in time. Still, it remains probable that Colorado’s recreational marijuana market could still approach $500 million in just its first year.

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