INTERNET MARKETING

 
INTERNET MARKETING

25 Ways to Save $250 (or More) Monthly That Most Business Owners Are Ignoring
Why organizations should give employees more say in when, where and how they work
3 Awesome Tips for Turning Business Weaknesses To Strengths
States With No Corporate Income Tax Rate
Ohio
Nevada
South Dakota
Texas
Washington
Wyoming
Key Economic Indicators
Item Rate
CPI: 0.0% (Jun 2017) 
GDP Growth: 1.2% (1st Qtr 2017)
Prime Interest Rate: 4.25%
Consumer Confidence: 118.9% (Jun 2017)
Small Biz Confidence: 103.6% (Jun 2017)
Avg Gas Price: $2.25

 

 

 

 

 

 

 

 

SMALL BUSINESS NEWS

1 August 2012

 

Email this page    

 

Small Businesses In The Medical Marijuana Industry Are Under Pressure

The medical marijuana industry is under pressure from the federal government and local communities.

Medical Marijuana companies in cities such as Santa Monica and California are being forced to close shop.

The LA City Council is moving to ban medical marijuana dispensaries citywide.

According to the Board of Equalization, with over 400,000 users and and 638 small businesses with revenues in excess of $1.3 billion, California has the largest market for medical marijuana in the country.  It generates $105,000,000 in sales taxes.
Nation-wide sixteen states and the District of Columbia have legalized the use of marijuana according to the National Organization for Reform of Marijuana Laws.  These states include:

Alaska
Arizona
California
Colorado
Delaware
District of Columbia
Hawaii
Maine
Montana
Michigan
Nevada
New Jersey
New Mexico
Oregon
Rhode Island
Vermont
This is a multi billion dollar industry.  There are over 1,800 small businesses in the industry.  State sales taxes range from 0% to 7%.  Over $151,000,000 is generated in taxes to the states from this industry annually.  There are over 730,000 users nationwide.
Entry to the industry can be high depending on the state.  Some states charge a licensing fee for businesses (caregivers) to operate as well as a participation fee to individuals who want to join the state medical marijuana program.  Licensing fee can be can be as high as $5,000 annually.  The fee to join a medical marijuana program can be as high as $200 per year.

Some states limit the number of patients a provider can have at 1,000.
Cities are taking a hard look at medical marijuana laws because these businesses have become a magnet for crime, nuisance, and addiction. The intent of the medical marijuana laws was to help sick people who can benefit from it's use.  However, the typical customer has become individuals without a medical condition that requires the use of medical marijuana.

Sources
- National Organization For The Reform of Marijuana Laws (NORMAL)
- New York Times
- Vermont Medical Marijuana Fee & Tax Reort


By Jack River

 

 

 

 

 

 
 

 

  
 

INTERNET MARKETING

News Home

SBZ Home

 

  

     

                  Report broken links               Contact us              About us           Become a Contributor to this site            Link Exchange 

2012-2015 The Small Business Zone, Inc.  All rights reserved.