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Hundreds Of Entities Applying For Medical Marijuana Business Licenses In New York

Category: News | Posted on Tue, May, 12th 2015 by THCFinder

new york medical marijuanaPeople trying to get into the marijuana industry, or people that are already in the marijuana industry, have always had their eyes on New York. New York has such a massive population that the potential for success in New York’s medical marijuana industry is obvious. New York recently opened up the application process, and there are already several hundreds of applicants. PerMarijuana Business Daily:

So far, at least 300 would-be cannabusinesses have lined up to submit a business license application and a corresponding $10,000 non-refundable fee to the state health department, according to the New York Post. The application period runs until May 29, so that number could easily double.

Those hundreds are competing for just five permits to grow, process and dispense medical cannabis in the state, and each of the five will be allowed to open at least five dispensaries (though advocates say the law allows for the health commissioner to increase that number).

The stakes are very high in New York. By the time the application window closes at the end of this month, there could be double the amount of applicants that there are now, or possibly even more than that. Five companies are going to essentially win the lottery when they get approved. Everyone else will be left on the outside looking in. I just hope that the five companies that win licenses are good stewards of the industry, and put patients above all else. I’d hate to see nothing but greedy people win the licenses. If so, profits would be put before patients, at which point the industry would never reach its full potential in New York, and patients would likely go back to the black market.

Source:http://www.theweedblog.com/hundreds-of-entities-applying-for-medical-marijuana-business-licenses-in-new-york/


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DEA Steals $16K From Innocent Man, Leaves Him Without a Way Home

Category: News | Posted on Tue, May, 12th 2015 by THCFinder

Uncle Sam continues to use the War on Drugs to profit from the misfortune of average citizens.

Earlier last month, 22-year-old Joseph Rivers boarded a train bound for Los Angeles in hopes of one day having a career in the entertainment industry. Unfortunately, federal authorities chopped the man’s bright-eyed enthusiasm off at the neck, long before he ever crossed over into California, by stealing his life savings. 

According to The Albuquerque Journal, agents with the Drug Enforcement Administration accosted Rivers at an Amtrak station during a short layover in New Mexico. It was here that agents began giving him and several other passengers the third degree in hopes of establishing evidence to suggest that someone, anyone, might be using the great American rail system to traffic illegal narcotics. 

Witnesses say the shakedown began as a series of typical law enforcement-type questions: "Where are you going… and why?" However, Rivers, the only black man at the scene, was reportedly singled out by an agent and asked for consent to a search of his bag. Hoping to avoid any further hassle, Rivers complied with the DEA’s request.

During the search, agents found an envelope from a Michigan bank containing River’s life savings$16,000 in cash. Although there was nothing in the bag to suggest involvement with the illegal drug trade, agents decided to seize all of the cash based on possibility that Rivers earned it slinging dope.

Read More:http://www.hightimes.com/read/dea-steals-16k-innocent-man-leaves-him-without-way-home


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Supreme Court Ruling Alters Criteria for Probable Cause

Category: News | Posted on Mon, May, 11th 2015 by THCFinder

Law enforcement operating in medical marijuana states could be forced to dig deeper than just evidence of a home grow operation to establish probable cause for a search warrant.

Recently, the Supreme Judicial Court of Massachusetts determined that in order for police to obtain a warrant to search a residence for illegal marijuana possession or cultivation, they must first be able to prove that the occupants of the dwelling are not properly registered to engage in such activities.

The latest judgment by the state’s highest court, making it unlawful for police in medical marijuana states to use evidence of a home grow as the sole basis for obtaining a search warrant, is in response to a 2013 case in which the defendant Josiah H. Canning was busted for illegally cultivating approximately 70 plants inside his home. The ruling found that while law enforcement may have previously used certain criteria as a means for establishing probable cause, the state’s newfound medical marijuana laws now discount these variables as grounds for suspected criminal activity.

Therefore, the judge agreed to the defense’s motion to suppress the evidence in this case, stating that in order for police to apply for a search warrant, “they must offer information sufficient to provide probable cause to believe the individual is not properly registered under the act to possess or cultivate the suspected substance.”

During the investigation, law enforcement collected several pieces of evidence, which have become common red flag for narcotics agents attempting to bust suspected dope dealers. They witnessed Canning bringing home supplies from a hydroponic grow store. Night vision goggles revealed that his apartment was rigged with lighting. They claimed to smell the herb permeating from the house. And, last but not least, they had a confidential informant who confirmed that Canning was, in fact, growing marijuana.

Read More:http://www.hightimes.com/read/supreme-court-ruling-alters-criteria-probable-cause


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Washington Sells Almost 25 Million Dollars Worth Of Recreational Marijuana In April

Category: News | Posted on Mon, May, 11th 2015 by THCFinder

WashigntonThe numbers are in for Washington State’s recreational marijuana sales for April 2015. This was the first 4/20 for recreational marijuana sales in Washington. Sales started in July of 2014. As I expected, sales grew significantly compared to earlier in the year, and exponentially more than last summer. Per Marijuana Business Daily:

Sales via rec shops totaled $24.8 million in April, up from $12.7 million during the first month of 2015, according to the latest data from the state Liquor Control Board.

The number is up significantly from the $2 million brought in during July 2014, the first month that sales began.

From July 1 through the first week of May, total retail sales in Washington State totaled $119.7 million, with projected retail excise tax revenues of $29.9 million.

I’d expect those numbers to come back down for May. April 20th, and the days leading up to it, will always give a boost to marijuana store numbers. Something to watch for in Washington is the implementation of Senate Bill 5052, which is going to drastically change the landscape of the marijuana industry in Washington. The bill is an attempt to fuse the medical marijuana industry with the recreational marijuana industry, which is going to either force patients to pay much higher prices for their meds at licensed stores (which would boost numbers for current rec store owners), force them to go back to the black market, or even worse, force them to go without meds altogether.

Source:http://www.theweedblog.com/washington-sells-25-million-dollars-rec-marijuana-april/


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Legal Marijuana Faces Another Federal Hurdle: Taxes

Category: News | Posted on Sun, May, 10th 2015 by THCFinder

DENVER — Money was pouring into Bruce Nassau’s five Colorado marijuana shops when his accountant called with the bad news: The 2014 tax season was approaching, and Mr. Nassau could not rely on the galaxy of deductions that other businesses use to reduce their tax bills. He was going to owe the Internal Revenue Service a small fortune.
 
“I had to write a check for $275,000,” Mr. Nassau said. “Unbelievable.”
 
The country’s rapidly growing marijuana industry has a tax problem. Even as more states embrace legal marijuana, shops say they are being forced to pay crippling federal income taxes because of a decades-old law aimed at preventing drug dealers from claiming their smuggling costs and couriers as business expenses on their tax returns.
 
Congress passed that law in 1982 after a cocaine and methamphetamine dealer in Minneapolis who had been jailed on drug charges went to tax court to argue that the money he spent on travel, phone calls, packaging and even a small scale should be considered tax write-offs. The provision, still enforced by the I.R.S., bans all tax credits and deductions from “the illegal trafficking in drugs.”
 
Marijuana business owners say it prevents them from deducting their rent, employee salaries or utility bills, forcing them to pay taxes on a far larger amount of income than non-marijuana businesses with the same earnings and costs. They also say the taxes, which apply to medical and recreational sellers alike, are stunting their hiring, or even threatening to drive them out of business.
 

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Buying weed on Craigslist: Denver police arrest three in bust

Category: News | Posted on Sun, May, 10th 2015 by THCFinder

Three Denver men are accused of trying to sell marijuana on Craigslist after an undercover sting by the Denver Police Department’s marijuana unit.

An officer found a posting on the online marketplace for marijuana for sale. The officer contacted Samuel Rodgers, 22, and agreed to buy 4¼ pounds for $10,000, according to arrest affidavits filed in the case.

The undercover officer met Rodgers on Wednesday at one location and then they drove to Buddy Boy, a marijuana distributor and retailer at 5050 N. York St.

There, they met Harrison Bowman, 19, who said a third person was coming and they “would do the deal,” the arrest affidavits said.

Joseph Jaszczyk, 36, arrived carrying a large, blue backpack that appeared to be full, the arrest affidavit said.

All three were arrested on marijuana distribution charges.

The police department posted news of the bust on its Facebook page.

Jaszczyk was an employee at Buddy Boy and had been buying thousands of dollars worth of marijuana from his employer, according to the Facebook post. The purchases were legal through a doctor’s order.

Medical marijuana patients are allowed to buy more than two ounces at a time if they have a designated medical marijuana center and documentation from a physician that allows large purchases, according to the state’s Marijuana Enforcement Division. 

Read More: http://www.thecannabist.co/2015/05/08/buying-weed-craigslist-bust-denver-police/34629/


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