Legal marijuana is a $10 billion a year industry in the U.S. alone. As more investors are seeing the industry as a lucrative investment, and as more states legalize cannabis for recreational use, marijuana businesses in Colorado is likely to grow. Business owners, investors, and entrepreneurs who are considering starting their own marijuana business or who are thinking of investing in the marijuana industry may want to speak to a marijuana business attorney in Garfield County, Colorado before moving forward. The industry requires businesses to meet stringent rules and requirements and businesses are wise to understand the law before opening up shop in Colorado.
In Colorado, it is legal to purchase, cultivate and sell marijuana. Sellers must hold proper licenses. In order to buy marijuana in Colorado, purchasers must be 21 years of age. Furthermore, adults are only permitted to possess up to one ounce of marijuana at a time. Adults without a marijuana license are permitted to give up to one ounce to another adult, but must a hold local and state licenses if they wish to sell cannabis in Colorado.
Starting a marijuana business in Colorado requires business owners to navigate a complex range of legal requirements and regulations. Because federal law still prohibits the sale and distribution of marijuana, business owners in Colorado are wise to take steps to protect themselves legally. A marijuana business law firm in Colorado like Sands Law Office, LLC can assist businesses when setting up the appropriate corporate structure, managing complex financial and taxation requirements, and navigating other issues that can arise. The Sands Law Office, LLC is a marijuana business law firm in Garfield County, Colorado that assists business owners in Colorado who are thinking of opening a dispensary or growing operation in the state. Marijuana business owners in Colorado must meet strict local and municipal requirements and a marijuana business lawyer in Garfield County, Colorado can offer guidance to these businesses.
Requirements for a Retail Marijuana License in Colorado
Cannabis business owners must navigate a range of new challenges when starting their business. Before they begin to apply for a license, business owners might want to consult with a law firm like the Sands Law Office, LLC, a marijuana business law firm in Garfield County, Colorado. What are some of the factors that a new marijuana business owner should consider?
- In order to get a marijuana retail license, the Colorado government requires that applicants demonstrate that they meet Colorado residency requirements. Applicants for retail marijuana licenses must have been residents of the State of Colorado for two years, pass criminal and background checks, and hold a license with both the state and the local municipality or county in which the business will operate.
- Corporate Structure. Like any business, a company may want to incorporate. The choice of corporate structure a marijuana business owner selects can have implications for taxes and legal protections that the company can enjoy. Because the cannabis industry is highly regulated, business owners are wise to consult with a marijuana business law firm before seeking capital, loans, or incorporating their marijuana business in Colorado. Often the location of marijuana businesses are restricted by zoning to only limited areas.
- Understanding Regulation. Marijuana growers must meet strict regulatory requirements regarding the use of pesticides for their grows. Marijuana sellers must follow all of Colorado’s laws regarding the sale of marijuana in the state. Sellers may also be required take steps to ensure that their cannabis doesn’t enter the black market across state lines, and must take steps to ensure that marijuana isn’t sold to those who are underage. Before applying for a state or local marijuana license in Colorado, entrepreneurs often speak to a marijuana business law firm first, like the Sands Law Office, LLC in Garfield County, Colorado.
- Litigation and Enforcement. If you are a marijuana business and are facing litigation or enforcement for violation of local or State regulations, the Sands Law Office, LLC is a Garfield County, Colorado marijuana business law firm that works with clients facing fines or other penalties.
The Sands Law Office, LLC is a marijuana business law firm in Garfield County, Colorado who works with business owners and entrepreneurs in the state who are considering starting their own grow operations or dispensaries. While the cannabis industry is growing in Colorado, business owners often need to take various legal precautions to protect themselves. The Sands Law Office, LLC works with small business owners and retailers looking to open a dispensary or grow operation in Colorado.