In January of 2018 the State of California announced they would be issuing annual licenses within 180 days and within that time the state track and trace system for cannabis, METRC, would be operational. With METRC integration imminent, now is the time to think about how to track plant movement and inventory levels to start reporting the required data back to the state. The first step you should take is to find a business partner whose software platform will provide value for your business and also assist in helping you make this transition.
Although the news of cannabis cultivator busts is not uncommon, a recent incident in California appears to be establishing a seismic shift in the response from law enforcement. You can read the entire Associated Press article on MSN, but here are the highlights:
Finally, the three licensing authorities and the California Department of Tax and Fee Administration today have released the highly anticipated recreational cannabis regulations. With only six weeks left until the beginning of recreational marijuana in California, Flourish will be regularly updating educational materials for cannabis business operators so stay tuned on this blog! You can also refer to our Blog A Quick Guide to Winning a Cannabis License in California for more information.
On January 1, California will begin issuing licenses allowing businesses to legally sell marijuana for recreational use. It is estimated that recreational marijuana sales will command about 60 percent of the state’s pot market — accounting for about $5 billion in annual sales. For anyone looking to step into the cultivation industry, this is a great opportunity. Here are a few key things an entrepreneur looking to operate in the cannabis industry should know about the new regulatory environment.