Maryland Adult-Use Cannabis Program Signed Into Law

May 4, 2023 | News

On May 3, Maryland Governor Wes Moore signed legislation to implement the voter-approved legalization measure that passed in the November 2022 election. The General Assembly’s legislation provides guidelines for Maryland’s adult-use cannabis industry, which will be launched on July 1, 2023. The bill includes provisions that address social equity, criminal justice reform, and public health.

According to Cannabis Business Times, the legislation includes provisions for automatic expungement of certain cannabis-related offenses, prioritizing licenses for minority-owned businesses and individuals harmed by the war on drugs, and ensuring that the cannabis industry provides benefits to the communities most affected by prohibition. The bill also establishes a tax structure for adult-use cannabis sales, with the revenue being used for public education and other initiatives.

The implementation of Maryland’s adult-use cannabis market is expected to bring economic benefits to the state, including increased tax revenue and job creation. It is estimated that the market could generate over $200 million in annual tax revenue and create thousands of jobs.

With the legalization of adult-use cannabis, Maryland joins a growing list of states that have legalized cannabis for recreational use, including Colorado, California, and Massachusetts. The legalization of cannabis for recreational use is a significant milestone in the cannabis industry, as it indicates a shift in public opinion towards the acceptance of cannabis as a legitimate and valuable industry.

The implementation of Maryland’s adult-use cannabis market is an exciting development for cannabis enthusiasts, entrepreneurs, and investors in the state. It is expected to create new business opportunities, provide relief to those who have been disproportionately impacted by prohibition, and further advance the acceptance and normalization of cannabis use in society.

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Major Corporations Investing in Cannabis

by | May 4, 2023 | News | 0 Comments

As cannabis legalization continues to spread across the country, major corporations are increasingly taking notice and investing in the industry. In April of 2023, a major beverage company announced a $100 million investment in a cannabis-infused drink startup, signaling the growing trend of large corporations entering the cannabis space.

Navigating the Path to Stability: Receivership as an Alternative to Bankruptcy for Struggling Cannabis Businesses

by | August 16, 2023 | Education | 0 Comments

As the cannabis industry continues to experience rapid growth and profit potential, businesses operating within this space face unique challenges and complexities. Financial distress may strike even the most promising cannabis enterprises, leaving them searching for viable solutions beyond traditional bankruptcy protection. In such cases, receivership emerges as an equitable remedy—a legal process that empowers a court-appointed receiver to take control of a distressed business. In this article, we will delve into what receivership entails and explore its significance as an alternative to bankruptcy for struggling cannabis companies.

Navigating the Evolving Regulatory Landscape: Key Considerations for Multi-State Expansion

by | May 31, 2023 | Education | 0 Comments

As the cannabis industry continues to flourish and expand across multiple states, it is crucial for cannabis business owners and aspiring entrepreneurs to navigate the ever-changing regulatory landscape. In this blog post, we will explore the key considerations for successfully expanding a cannabis business across different states, ensuring compliance, and capitalizing on growth opportunities.

California Department of Cannabis Control Invests in Expanding Licensed Cannabis Retail

by | June 29, 2023 | News | 0 Comments

The Department of Cannabis Control (DCC) has recently announced an exciting development in California, focused on expanding access to licensed cannabis retail. A total of 18 local jurisdictions have been selected to receive funding through a pioneering program that aims to facilitate the establishment of cannabis retail licensing pathways. This funding will not only enhance consumer access to cannabis products but also provide crucial support to equity operators, promoting a more equitable and inclusive legal cannabis market.

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