Glad Labor Day weekend, everybody!
The canine days of summer season are nonetheless a busy time for NY weed. Let’s check out what NY Hashish Insider coated final week.
I ran a story on Thursday a few vital shift within the Workplace of Hashish Administration’s timeline for opening the NY marijuana market. OCM Government Director Chris Alexander mentioned at an occasion final week that the applying interval for many marijuana companies would start in the midst of subsequent yr. This marks a departure from previous statements OCM and Hashish Management Board officers, who mentioned your entire adult-use market would probably be on-line by then.
A number of individuals who intend to use for a hashish enterprise license informed me that they had been planning round the concept that they’d be operational by the summer season of 2023. That included Mike Flynn, who mentioned he has already spent $3.3 million shopping for 13,000-square-foot house for a dispensary he desires to open in Syracuse’s Armory Sq., and renovating the inside and becoming it with point-of-sale programs.
“I knew it was going to take time, and I knew I used to be sort of leaping the gun right here … however I didn’t count on it to take this lengthy,” Flynn mentioned. “That is going to be fairly exhausting with the overhead simply to maintain this constructing afloat … for one more full yr earlier than we are able to open.”
Final week we additionally posted lawyer Jeffrey Hoffman’s latest Ask Me Anything phase on LinkedIn. On his weekly Q&A present, Hoffman answered questions on labeling laws, license restrictions and extra.
I wrote a narrative on Wednesday a few federal court docket choice out of Maine that could have ominous implications for all states which have legalized marijuana. In a ruling out of a federal First Circuit Courtroom of Appeals in Maine final month, two of three judges on a panel struck down the state’s requirement for medical marijuana firm homeowners to be state residents. The court docket dominated that the residency rule violates the Dormant Commerce Clause, which prevents states from passing laws that discriminates towards, or excessively burdens, interstate commerce.
Vanderbilt College legislation professor Robert Mikos informed me that’s problematic for NY’s Conditional Grownup-Use Retail Dispensary (CAURD) program. That’s as a result of along with necessities that profitable candidates will need to have been arrested (or are associated to somebody who was arrested) for a marijuana crime in New York, they have to even have been a New York resident on the time.
Reporter Andrés Rendon talked to Paula Collins and Erica Edwards – each accountants and co-founders of the NY Consortium of Hashish Accountants – for a story about the financial challenges potential dispensary homeowners may run into when launching their companies.
Entrepreneurs trying to open an adult-use marijuana retail store in NY must cope with all of the complications acquainted to Empire State retailers in all industries – i.e. excessive lease in and round NYC, common enterprise taxes. However weed firms additionally should cope with an much more complicated tax construction – since hashish is authorized statewide, however federally unlawful – and roadblocks associated to issues like actual property.
Lastly, we ran a preview concerning the half-day occasion we’re internet hosting in Syracuse later this month. It’s scheduled for Sept. 23, and everybody ought to seize a ticket ASAP. The occasion we hosted in NYC on Aug. 23 bought out.
Thanks for studying, everybody, and have an awesome lengthy weekend!
