Marijuana Business News

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Mon
13
Apr

High Times editor: ‘Colorado cannabis industry is an economic miracle’

High Times magazine’s New York-rooted editor-in-chief Dan Skye has spent plenty of time in Colorado researching and photographing the state’s medical and recreational systems, but his current, pre-Cannabis Cup trip to the state has been uncommonly eye-opening.

“The Colorado cannabis industry is an economic miracle,” Skye said Monday from a stop in Pueblo, where he’s meeting cannabis business owners and reporting on the state’s first-of-its-kind legalization. “Everyone in the United States is following Colorado’s lead.”

Mon
13
Apr

MBank to Close All Cannabis Accounts

MBank, the small Oregon-based financial institution that has serviced the cannabis industry since last year, told Marijuana Business Daily that it will close all of its accounts with marijuana companies in the next two months.

Jef Baker, the CEO and president of MBank, said the cost and time spent on compliance is too much for the Gresham, Oregon-based community bank to handle. The company – which quickly became one of the largest banks serving the marijuana industry – has about 70 to 75 accounts with cannabis businesses, Baker said. Most of them are in Oregon, though a few are in Washington State.

Mon
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Apr

Oregon Senator Wyden talks tax breaks for marijuana businesses

EUGENE, Ore. - With just days left to file income taxes, Oregon Representative Earl Blumenauer and Senator Ron Wyden introduced legislation that would allow marijuana businesses to take deductions as long as they are following state laws.

Wyden has also proposed a tax reform plan that would make filing taxes easier and create incentives for local businesses.

“We really have a one page form, just over 30 lines long and if we go to something like that - Oregonians are going to be able to get their April back," Wyden said.

He said these changes would reflect the will of Oregon voters and provide some certainty for small businesses.

He hopes to move forward with these tax changes in the upcoming months.

Mon
13
Apr

The Wall Street of cannabis?

In 2011, the only place you could buy a pound of pot online was Silk Road, an illegal marketplace labeled by the media as the “Amazon of drugs.”

In 2015, there’s a website run by veteran commodity traders where Colorado growers and retailers can trade cannabis online – legally.

The Denver-based company Amercanex launched its online marketplace last summer, and it has plans to expand outside of Colorado by the end of 2015.

Mon
13
Apr

Potential pot entrepreneurs pay for cannabis career tips at Sacramento seminar

Retired Silicon Valley engineer Angelo Mallol, 56, turned out Sunday for a seminar on how to start a small business – in the pot trade.

He asked questions as instructor Gerry Bedore of the Cannabis Career Institute spoke about emerging opportunities for entrepreneurs wanting to enter California’s medical marijuana market and cash in on a likely 2016 state ballot initiative to legalize recreational pot use.

The Cannabis Career Institute, founded by a Los Angeles marijuana activist and pot deliveryman known as “The Cannabis Warrior,” held a daylong Sacramento program on how to open cannabis businesses, from niche bakeries and organic gardens to marijuana distribution services.

Mon
13
Apr

Minnesota employers should review policies ahead of medical marijuana rollout

Now that medical marijuana is legal in Minnesota and disbursement is set to begin July 1, employers should review their policies regarding such workplace procedures as drug testing and the Americans With Disabilities Act to ensure they protect the business, as well as the employee.

Minnesota’s law authorizes the use of medical marijuana for patients suffering from several medical conditions including glaucoma, HIV/AIDS, certain cancers, seizure disorders, Crohn’s disease and illnesses causing severe and persistent muscle spasms. Individuals eligible for the medication are required to enroll in a statewide registry.

Mon
13
Apr

Medical marijuana businesses gobble up Colorado Springs industrial space

Smaller industrial buildings that are home to warehouses and distribution centers might lack gee-whiz architectural appeal, and they're often in nondescript parts of town where restaurants and other amenities are few and far between.

But they're perfect for the medical marijuana industry, whose appetite for smaller industrial buildings has made them a hot commodity.

Unlike Denver and Pueblo, Colorado Springs and El Paso County have banned recreational marijuana grow operations and sales, but they allow medical marijuana sales, cultivation and manufacturing.

Mon
13
Apr

Mile High City: Denver Prepares For Annual Marijuana Tourists As '420' Quickly Approaches

Denver, the Mile High City, has seen a spike in tourists booking flights and hotels as it prepares for the annual "420" celebration. In part April 20 celebrates marijuana becoming legal in Colorado in 2014.

 

April 20 has become a red later day for marijuana smokers primarily in North America. Some events on that day promote the legalization of cannabis.  

Last year was Denver's first 420 celebration. Even though it occurred on Easter Sunday, tens of thousands of tourists helped to create a cloud of marijuana smoke above the city.

Mon
13
Apr

MD Lawmakers Repeal Prohibition On Marijuana Paraphernalia

ANNAPOLIS, Md. (AP) — It would no longer be a crime to possess marijuana-related paraphernalia in Maryland, under a bill approved by the Maryland General Assembly.

The House of Delegates voted 84-52 on Saturday for the Senate bill, sending it to Gov. Larry Hogan.

Maryland decriminalized possession of less than 10 grams of marijuana last year. That made it a civil offense rather than a criminal one.

However, lawmakers didn’t do the same thing for paraphernalia like pipes, so the bill was introduced this session.

The measure also makes smoking marijuana in public a civil offense, punishable by a fine of up to $500.

 

Mon
13
Apr

Is marijuana a new growth industry for Ohio? (Video)

The UpTake: Legalizing marijuana could result in a $4.1 billion Ohio industry by 2020. Those are serious numbers for those advocating for the state to join the ranks of those that already permit pot.

I an James, architect of a proposal to legalize pot in Ohio, said it stemmed from a simple notion: "Let's take this from the tie-dye to the suit-and-tie approach to marijuana."

James, CEO of the Strategy Network, a Columbus political consulting firm, turned to Cincinnati lawyer Chris Stock for help. Would Stock draft a proposed amendment to the Ohio Constitution that would outline how pot would be regulated for personal and medical use? "I've never used marijuana in my life," Stock told James. "I'm not sure I want to be involved." But he relented.

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