Just after growers invested life savings to become farmers, Colorado put the kibosh on their business and their dreams.
“Some of the provisions of the Colorado law will put people out of business” said Geno Rodriguez, a broker and expert on the MMJ business. According to Rodriguez, if you are late paying your sales tax you could be out of business soon! That is because late payers no longer qualify for a license. Once you lose it you will have a hard time getting one again.
A second major change, according to Rodriguez, who works for MMJ Business Solutions, is the grow requirement. Surprisingly, many businesses licensed as retail dispensaries have little interest in the fine art of cannabis farming. They left that to professional growers who were also licensed. Under the new Colorado laws, growers are a thing of the past. Dispensaries must grow the majority of the product they sell. That has left growers and dispensaries frantically partnering into business relationships which might otherwise have been better thought out.
By the way, I didn’t want to point out to Mr. Rodriguez the initials of MMJ Business Solutions is MMJ BS! This guy knows more about Colorado state MMJ laws than most attorneys!
One thing is for sure. While the feds have agreed to back off of the MMJ issue for now, that only applies to the guys who follow the rules. The rules just got a lot tougher. Those who violate the laws may find themselves in hot water next to bend-em-over Bill in the state pen! MMJ is high risk if you do it right. If not, well that is where a good attorney or consultant comes in hand!
The future of the MMJ business is likely well cemented in Colorado, no matter who is left standing today. Colorado has imposed large tax and application fees on MMJ businesses. Once the cash starved government gets it’s hands into the money pit they are not likely to toss it back easily.
Those who have a legitimate reason to use medical marijuana can register and get your walking papers at the Colorado Department of Health! The word legitimate applies, the state cracked down hard on doctors who were giving out licenses like candy. Someone always rains on a good parade, but we are sure the docs who were doing this irresponsibly will find another racket, unlike growers who are out of luck if they have not found a good dispensary!
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