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LEGAL TIP OF THE WEEK

THE MONEY SIDE OF MEDICAL MARIJUANA

Ever since the vote to legalize marijuana for medicinal purposes was passed, the State has been hard at work to come up with regulations to implement use and other issues. One very important issue is where the money from sales will go? This includes more than just how the state will benefit, but will sellers be able to deposit profits without fear of prosecution? Prior to the new law, depositing money made from selling a drug was illegal, and this issue will have to be addressed so businesses can operation smoothly. Another issue related to the legality of depositing profits is use of credit systems. Banks typically offer these services to small businesses, but many may shy away from partnering with a dispensary or other seller. Some of these problems come from the conflict between state legalization and federal law. While all of the specifics regarding medical marijuana have yet to be resolved, rest assured we are keeping updated as things develop and will continue to provide the excellent representation you’ve come to expect from the Hosty Law Office.

For more information, contact us online today www.hostylaw.com or by calling the office at (405) 235-4040.