54
Legal Focus
SEPTEMBER 2014
the main psychoactive component of the plant, while CBD is a cannabinoid widely prized for its pain relief properties. November’s Florida ballot will include an amendment on the full legalization of medical marijuana. If it receives 60% support, the 2015 legislature will need to determine how a statewide medical cannabis program would operate.
security firms and business consultancies to inventory management/tracking software designers, providers of lab and testing services, suppliers of labeling and packaging materials, developers of automated cash management systems, green energy providers for cultivation centers, and makers of cannabis processing equipment.
In July of this year, the House passed an amendment that would prevent the federal government from prosecuting banks doing business with those in the legal cannabis trade.
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The legalization of medical marijuana will have a positive influence on business at many levels. In states where cannabis is fully legal today, taxation policies and regulation are channeling pot entrepreneurial energy into creating an industry opening up jobs and businesses large and small ranging from
Banking laws, state regulations, and restrictions on interstate commerce all create major hurdles for new medical marijuana business ventures. Among these, probably the biggest challenge facing cannabusiness has been banking laws. Long responsible for the cash-only climate permeating the marijuana
www.lawyer-monthly.com
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