You know that cannabis, marijuana and CBD oil are different things. If you are considering having a CBD Oil business, you should speak with a lawyer in Utah who is familiar with the laws and business practices in this specific niche. Prior to 1996, when first state to legalize the medical use of cannabis (or marijuana), the idea of a “legal” marijuana business was unheard of. But as more states loosen their drug laws, allowing for medical and even recreational use of the herb, the industry has grown exponentially. The main caveat, of course, is the federal government’s drug laws, which still classify marijuana as a Schedule I drug. For now, the marijuana industry is beholden to a tangled web of often contradictory federal, state, and local laws. But for entrepreneurs willing to wade through the confusion and take on additional risk, the rewards are potentially huge.
Utah has just become a state that has allowed CBD Oil to be used for medical purposes. There was a lot of opposition to it. We can help you if you want to sell CBD Oil in Utah.
CBD Oil Is Different Than Marijuana
There are a few main types of marijuana businesses that actually handle the drug, each with their own challenges, costs, and regulatory requirements. These include cultivation, the manufacture of cannabis-infused products, retail sales, and delivery services. Other types of businesses include testing facilities, specialized equipment, and technology. After deciding which type of business you want to start, you will need to consider the following:
• Cost (including security, rent, utilities, licenses, and payroll)
• Residency requirements (most states require marijuana business operators to have residency in the state)
• Criminal record (drug felons are barred from starting marijuana businesses in most cases)
• Appetite for risk
• Timing (you may have to wait several months for your license to be approved)
• Investors and partners (funding a marijuana business can be tricky)
Besides the often-protracted licensing process, constantly changing laws, and limited funding options, the fundamentals of a marijuana business are not much different than for other industries. You will need to write business plan, find a location, form your business structure, contract with partners, and promote your business.
State and Federal CBD Oil Laws
It cannot be overstated that marijuana is still considered illegal under federal law, although the Department of Justice has generally had a hands-off approach to state medical and recreational marijuana initiatives. Basically, marijuana business owners who follow the laws of their state and local government are unlikely to face federal drug charges.
But this conflict with federal law still presents many hurdles. For instance, nationally chartered banks insured by FDIC typically will not do business with marijuana-based operations, since it is seen as too high-risk in the current regulatory environment. Banks themselves may be concerned about being charged with money laundering or other crimes just by providing loans or banking services (although, as noted earlier, the DOJ has largely left states alone).
Also, each state that allows some form of legal marijuana use has fairly unique laws and regulations. For example, Connecticut allows only 10 state-sponsored dispensaries to operate throughout the state, which may not be located within 1,000 feet of a school, place of worship, playground, park, or childcare facility. Colorado, which allows the recreational use of marijuana, has three separate licenses that authorize either the cultivation, manufacture of infused products, or retail sales.
Getting Legal Help When Starting a CBD Oil Business
It’s often a good idea to consult with a CBD Oil attorney before starting any business. Since the marijuana industry is even more legally complex and confusing, using the services of an attorney is even more crucial. In fact, there are individual attorneys and entire firms dedicated to the legal marijuana industry. A lawyer can help you comply with the various laws and regulations of your state, giving you piece of mind in a complex industry.
Free Consultation with a CBD Oil Lawyer
When you need legal help for your CBD Oil business in Utah, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506