Here is what happened in marijuana news today as reported on hiLounge.com and on other great publishing sites.
Marijuana Legalization News
Security cameras have been installed, scales calibrated and signs declaring “no returns” hung on the walls at Capital City Care.
There’s just one thing missing before the District’s first medical marijuana dispensary can open its doors: The marijuana itself.
Last Wednesday, medical marijuana activists seeking to overturn Santa Ana’s ban on medical marijuana collectives showed up at city hall with 16,000 signatures of city residents who want the pot clubs back in business. The group, which formed in August 2012 and calls itself the Committee to Support Medical Marijuana Ballot Initiative, hopes to let voters decide whether to set up a registration process that would allow no less than 22 cannabis clubs to operate, or roughly one per every 15,000 residents.
As Brendan Kennedy drove to his office in Santa Clara, Calif. in May 2010, he heard a radio host debate Proposition 19, the statewide referendum on legalizing marijuana. Funny, he thought. Earlier that week, in his role valuing private companies for acquirers and investors at Silicon Valley Bank, he had reviewed a website for finding medical marijuana dispensaries.
It’s hard to ignore the prevalence of medical marijuana dispensaries in California and elsewhere. They are on the corner and in the news. If you are a tax lawyer, it is even harder to ignore them, for there are big tax problems in this industry.