Cannabis has been legal in Washington State now for 10 years, making Washington among the most mature cannabis markets in the country. In 2020 alone, Washington’s cannabis market generated over 18,000 jobs and over $600 million in tax revenue. So why is the unregulated market still thriving? Washington State Cannabis Excise Tax Despite beliefs that California holds the highest, most complex tax …
Regions of robust, legal cannabis cultivation, such as the State of Oregon, are seeing a surge in unlicensed cultivation activities that are threatening legal markets, harming the local environment, and creating serious labor and humanitarian concerns. Consequences of Unlicensed Cultivation in Oregon Unlicensed cultivation sites are rampant throughout the counties of Deschutes, Jackson, and Josephine in Oregon. Operated chiefly by organized …
The cannabis industry presents a very unique and challenging field to conduct business in. Not only must cannabis businesses navigate the waters of a semi-legal industry, but they must also deal almost exclusively in cash. Handling and managing cash can pose real financial risks for cannabis dispensaries. For starters, having large sums of cash present at your business invites criminal activity …
In the past few years, retail stores across the United States have seen an influx in crime involving groups conducting smash and grab lootings, also known as “wildings.” Cannabis dispensaries have not been immune to these crimes and many of these “wildings” occurred in California. In most cases, the incidents were over in a matter of minutes – with looters …
As of January 1st, of this year, the city of Denver, Colorado has begun mandating cannabis dispensaries implement additional security requirements in response to recent increases in crime at cannabis businesses. There are over 200 dispensaries in Denver that produce an estimated $700 million in annual revenue that now must comply with regulations that bear additional costs and include the use of a secure storage …
Cultivators and dispensaries have different but important security needs; thus, regulators mandate requirements of facilities to ensure that the businesses do not fall victim to theft and diversion. Common regulations involve commercial video, alarm, and access control systems. These requirements are the minimum for businesses, and businesses can choose to do more than the regulators require. How about laboratories though? …
Adequately securing any cannabis operation is a difficult task, but securing where the public interacts with cannabis operations, is even more intense. Interacting with cannabis customers either within a cannabis retail store, or within a cannabis consumption space, requires your security plan to be well thought out, documented, and able to grow and change as you operate. Knowing the key …
This article was originally featured on the COVA blog. The pandemic and a preference for convenience have certainly changed the way people purchase just about everything, including cannabis. There has been a significant increase in E-commerce and delivery orders for cannabis products in the past couple of years- and these revenue streams are poised to grow bigger as new consumers enter the …
With the rapid expansion of the cannabis industry, frequent transport of cannabis is becoming a requirement for many cannabis businesses. To meet this need, cannabis business owners must decide whether or not to vertically integrate and transport cannabis in-house or hire a third-party company. This can be a confusing and daunting decision because while self-transport ensures control over all transport …
The New Jersey Cannabis market has undergone a lot of turbulence and delays, especially for prospective business owners. The state has an existing medical cannabis market and will soon be accepting licenses for adult-use cannabis businesses. With the recent announcement of winning medical cannabis applicants after a lengthy delay and the newly legalized adult-use market and licensing process, the New …
