For Example, Two Inherent Disadvantages Caused By The Federal Government’s Schedule 1 Status Of Cannabis Have Kept A Lid On The Expansion And Profit Potential Of Marijuana Businesses.

The two main drivers behind the marijuana movement continue to be the changing perception of the drug among the public, and the desire of governments at the local and state level to generate new channels of tax revenue. Since the mid-1990s, the number of respondents in Gallup’s national poll who’d like to see cannabis legalized nationally has more than doubled. In 1995, favorability stood at just 25%, but by 2016 it had risen to 60%, an all-time high. The green behind the green, or should I say money behind the industry, is another reason why state-level governments have been so willing to put marijuana initiatives on the ballot. The passage of Prop 64 in California could add $1 billion or more in annual tax and licensing revenue to the state, while Colorado wound up racking up $135 million in tax and licensing revenue in 2015 on $996.2 million in sales. Through the first 10 months of 2016, Colorado had already topped $1.1 billion in legal pot sales, so expect its tax and license revenue to have risen in 2016. Image source: Getty Images. A number of disadvantages keep the pot industry from budding Yet, a number of challenges continue to plague the pot industry. For example, two inherent disadvantages caused by the federal government’s schedule 1 status of cannabis have kept a lid on the expansion and profit potential of marijuana businesses. For starters, most cannabis businesses have little or no access to marijuana basic banking services, such as a checking account or line of credit.

To read more visit http://www.foxbusiness.com/markets/2017/02/04/this-cutting-edge-marijuana-bill-could-keep-pot-users-from-losing-their-jobs.print.html

Share This Post

Recent Articles

Leave a Reply