Colorado Recreational Marijuana Laws Enter Second Phase
A big change went into effect for Colorado marijuana businesses yesterday. Effective July 1, 2014, recreational marijuana business licenses are no longer restricted to those with existing medical marijuana licenses. Now, if you are a Colorado resident and meet the other requirements, you can apply for a recreational marijuana business license. Even better, you don't have to grow in order to be licensed to sell, and vice-versa. As the Denver Post reports:
[W]hen these new businesses begin opening in October, all recreational marijuana companies will be allowed to specialize — as wholesale growers without a storefront, for instance, or as stand-alone stores that don't grow their supply. The only requirement is that owners be Colorado residents.
Legal recreational marijuana is now at the 6 month mark. It contributed $11 million in retail sales taxes to the state's coffers in the first four months. According to a study by the Drug Policy Alliance:[More...]
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