Oregon, It’s Time to Light Up! Recreation Marijuana is Now Legal

Posted on October 8, 2015 by admin

Like its neighbor, Washington State, Oregon is cashing in on legalized marijuana. While many are clamoring to get into the industry, or at least partake in the legalized goods, others are trying to limit these merchants. Some consider this a health issue, and some consider it a “public risk”. Other consider the federal issues, specifically the fact that marijuana – in any form – is still illegal. Because of this, the current sale of marijuana is untaxed, which will probably change once the Feds realize how much it brings in.

In addition to Oregon, Alaska is set to roll out recreational marijuana sales in early 2016. While merchants should be focusing on finding a MMJ merchant account, the underlying issues can affect their efforts. While this is a lucrative, and fairly safe, market, the fact that it is still Federally illegal deters banks, and many merchant account processors. If it comes down to it, Federal law trumps State law, so it is expected that banks and processors would worry. Combine that with the massive intake of transactions, and it can quickly turn a budding business into a hotbed of fraudulent transactions. This is why many are “cash only” merchants, but this is dangerous. With a “cash only” merchant, if someone robs the store, the funds are gone, and there is typically no way to recoup them. If the company took plastic card payments, the damage would be much lessened if someone robbed the store.

It’s not an easy industry to exist in, even with its “legal” labeling. States and merchants should bond together to help lessen the negative effects of this new industry. This can reap benefits for the entire state, as well, though some seem to forget it. Colorado brought in millions in tax revenue – from shops that are non-pot related – and its economy is booming. Legalized marijuana sales can, and probably will, turn Oregon into the newest, coolest tourist destination. Even if the pot is not taxed (at least, it isn’t taxed right now), other services and goods are. Travelers need a hotel room, food, things to do, and clothing. These things are taxed in Oregon, and they can bring in a massive amount of funds, just like in Colorado.

Those who plan to open marijuana shops in 2016 should not fret. While it can be tough finding a MMJ merchant account, the amount that your business will bring into the local and state economy will be well worth your risk. While it can be tough, it is well worth it once you see the benefits legalized marijuana can bring to your community.

If your Oregon Dispensary needs a MMJ merchant account, contact us for the solutions available today!

Legalization of Oregon Recreational Marijuana Could Mean Big Bucks for Dispensaries

Posted on July 24, 2015 by admin

The medical marijuana industry is waiting for Gov. Kate Brown to sign a bill into law that would allow the state’s 310 dispensaries to sell recreational marijuana. Medical marijuana dispensary owners are hoping the bill goes into effect as many are struggling to keep their doors open. The problem is that the Oregon market is extremely saturated with producers of medical cannabis who are fighting over a limited supply of medical cannabis patients.

The bill would allow existing dispensaries to decide between being medical marijuana distributors or recreational distributors. Recreational dispensaries would be allowed to sell up to a quarter-ounce of flower to customers or four non-flowering plants at once. The ability to sell recreational marijuana would keep many dispensaries afloat, and even expand the industry in Oregon. Both in-state and visitor demand could lead to sales that could be tripled or quadrupled if the bill passes. There is an estimated 1 million recreational consumers in Oregon. Plus dispensary owners think that recreational use would increase tourism, especially from Washington State, which could bring in millions of dollars.

Currently, the average gram in Washington costs between $25 and $30, while in Oregon MMJ prices stand at $8-$10. These lower prices could be enough to attract substantial tourism from the neighboring states. Still recreational facilities may not get rich quick. Under the bill, the state could impose a 25% sales tax on recreational marijuana. There may also be government fees for dispensaries, plus Oregon’s health agency could also introduce more fees and rules. Also rec stores will almost certainly be taxed at a higher rate than medical marijuana dispensaries. Whether or not marijuana distributors will see profits from recreational marijuana is yet to be seen until the bill is signed by the Governor.

If recreational marijuana is allowed in Oregon, dispensaries will need competent medical marijuana payment processing. The marijuana payment solutions provided by MMA will help grow your company’s business by giving your customers more ways to pay for your products. Learn more about expanding your customer’s payment options beyond cash.

For Marijuana payment Solutions contact us today!

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!

Senate Committee to Hold Hearing on Bill Allowing Medical Marijuana in Oregon

Posted on February 13, 2014 by admin

It has recently been announced that the state Senate Judiciary Committee will be holding a public hearing on the proposal to allow local governments to regulate medical marijuana dispensaries. The Association of Oregon Counties and the League of Oregon Cities are keen to push for the legislation, but have proposed a couple of amendments to the bill. These include the prohibiting of dispensaries within 1,000 feet of a pre-school, and also adds some regulation on the sale of marijuana-infused products that might come across as being “attractive to kids”. Either way, the fact that local governments are close to being able to allow the dispensaries is sure to be very good news for anyone in Oregon with a medical marijuana merchant account.

However, the Senate Bill 1531 will allow cities and counties to regulate or restrict the operation of medical marijuana facilities, prohibit the registration of facilities and/or regulating the storage of marijuana. These changes will be effective on March 1^st, which is two days before the state will begin to register the medical marijuana facilities. Rob Bovett, the legal counsel for the association, says, “The proposal is about local control of a virtually unregulated new marijuana business.” He also stated that the Oregon medical marijuana dispensary program will be the most unregulated program in the nation.

Basically, the bill is clarifying local government authority to regulate marijuana dispensaries by using police powers and existing land use. It will protect local governments from expensive lawsuits. The proposal allowing local regulation is supported by many, including the Association of Chiefs of Police and the Associated Oregon Industries.

In conclusion, local control has been an ever-changing issue since lawmakers in Oregon passed a law last year that created a registry of medical marijuana dispensaries – a thriving but very unchecked industry in the state itself. Cities like Medford have taken steps to restrict or prohibit dispensaries, but Peter Buckley, a sponsor of the original dispensary bill, said that medical marijuana patients should have access to the drug no matter where in the state they live, and that “cities like Medford will get over it in time.” Only time will tell.

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Tag Archives: Oregon Marijuana Dispensary

Oregon, It’s Time to Light Up! Recreation Marijuana is Now Legal

Legalization of Oregon Recreational Marijuana Could Mean Big Bucks for Dispensaries

The Third State To Legalize Recreational Use Of Marijuana

Senate Committee to Hold Hearing on Bill Allowing Medical Marijuana in Oregon

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