MMJ Business Daily

Viability of New York MMJ Timeline in Question

Some stakeholders in New York are already voicing concerns about whether or not medical cannabis will be available for purchase in January, as required by state law.

A mother with a severely epileptic daughter told one NBC affiliate that there’s “no way” MMJ will be ready for sale in New York if the medicine has to be grown and manufactured in-state, given that one of the license winners has said that its manufacturing plant won’t be up and running until December.

The same mother is also worried that the licensees may not fully understand what type of medicine is

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Viability of New York MMJ Timeline in Question is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Tax Issues Surrounding California MMJ Delivery Fees Crop Up

Medical marijuana delivery services in California – and the dispensaries that use them to transport cannabis to patients – may face a challenge on the tax front if they’re not careful.

In some cases, MMJ delivery fees are taxable, Jerome E. Horton, chairman of the state’s Board of Equalization, told Westside Today. In other cases they are not, meaning businesses could therefore accidentally pay more taxes than they owe.

Although sales of cannabis are generally taxable under California law, delivery fees are not if certain conditions are met. A third-party must actually handle the delivery, for instance, and

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Tax Issues Surrounding California MMJ Delivery Fees Crop Up is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Tuatara Capital Raises $26M to Invest in Cannabis Companies

By John Schroyer
New York-based equity firm Tuatara Capital, which launched last year and is looking to make investments in cannabis-related companies, recently completed a fundraising round of nearly $26 million, according to public documents filed wi…

Wisconsin Tribe May Become Latest to Join MJ Industry

Wisconsin’s Menominee Tribe will have a vote among its roughly 9,000 members this week on whether or not the group will take the plunge and begin growing and selling cannabis.

The members will take a two-part vote on Wednesday and Thursday this week, in a dual referendum on both MMJ and recreational cannabis. If a majority approves either medical or rec, then “tribal legislators would begin the process of writing ordinances to legalize marijuana on the reservation,” according to the Milwaukee Journal Sentinel.

The reservation, which is located in the northeastern part of the state, would benefit immensely

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Wisconsin Tribe May Become Latest to Join MJ Industry is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Washington State Official Who Helped Implement Rec Laws Stepping Down

The deputy director of Washington State’s Liquor and Cannabis Board, who had a vital role in crafting the law governing the state’s recreational industry, is stepping down.

Randy Simmons will leave the LCB for a senior administrator position with the state Department of Revenue at the end of August. After a difficult legislative session in which the state’s medical marijuana program was rolled into its recreational market, he said he’s “tired of all the battles going on,” according to the Seattle Times.

Simmons has been lauded for his efforts by industry and state officials alike.

As

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Washington State Official Who Helped Implement Rec Laws Stepping Down is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Florida May Boost Number of Legal CBD Producers

In an attempt to get out in front of a likely 2016 medical cannabis ballot measure, a small group of Florida state lawmakers have revealed a new bill that would eliminate the cap on marijuana growers allowed by the state, and also expand the qualifying medical condition list for CBD.

Currently, Florida law allows for only five marijuana cultivators who would be legally allowed to produce and dispense CBD medicine. Rep. Katie Edwards, one of the bill’s sponsors, said the bill is a reaction to the state Department of Health dragging its feet on the administrative process.

Edwards

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Florida May Boost Number of Legal CBD Producers is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Chart of the Week: Average Annual MMJ Purchases By State Vary Widely

By Becky Olson

To develop reasonable financial projections and expectations, dispensary owners need – among other things – an estimate of the average quantity their patients will purchase each year.

The average quantity of MMJ flower patients in select states bought from dispensaries last year ranged from as few as 3.4 ounces per patient in Rhode Island to as many as 15.5 ounces per patient in Colorado, according to state reports – a huge range that can have a material impact on dispensary revenue.

Why such large disparities? It is largely a matter of accessibility.

Patient access to cannabis can be

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Chart of the Week: Average Annual MMJ Purchases By State Vary Widely is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

BOTEC Analysis Corp. to Consult on MJ Regulations for Jamaica

The Los Angeles-based BOTEC Analysis Corp. has been retained by the government of Jamaica to consult on developing regulations for the country’s upcoming medical cannabis and industrial hemp industries.

The same marijuana consulting company was also hired by Washington State after voters approved recreational marijuana in 2012, to help the state develop its rules and regulations for the rec industry there.

For Jamaica, BOTEC will develop a report that will include recommendations on issues that range from licensing procedures to taxation and market sizing, according to Caribbean News Now.

The report’s compilation will take two months,

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BOTEC Analysis Corp. to Consult on MJ Regulations for Jamaica is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

BOTEC Analysis Corp. to Consult on MJ Regulations for Jamaica

The Los Angeles-based BOTEC Analysis Corp. has been retained by the government of Jamaica to consult on developing regulations for the country’s upcoming medical cannabis and industrial hemp industries.

The same marijuana consulting company was also hired by Washington State after voters approved recreational marijuana in 2012, to help the state develop its rules and regulations for the rec industry there.

For Jamaica, BOTEC will develop a report that will include recommendations on issues that range from licensing procedures to taxation and market sizing, according to Caribbean News Now.

The report’s compilation will take two months,

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BOTEC Analysis Corp. to Consult on MJ Regulations for Jamaica is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

Charlotte’s Web Goes On Sale In the UK

CW Botanicals, manufacturers of a CBD oil popular in the United States for treating severe forms of epilepsy, has partnered with a UK company to launch sales of Charlotte’s Web in the United Kingdom.

It became legal to sell the oil in the country last month, and can also be used as a dietary supplement according to UK CBD’s chief executive officer in comments to Yahoo! News.

In the UK, marijuana is considered a Class B drug, and possession can lead to a prison sentence up to five years.

Lawmakers in the country will debate marijuana legalization

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Charlotte’s Web Goes On Sale In the UK is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs