Seizing the opportunity under the new law was always an important sense needed by every entrepreneur. In this case, the Oklahoma marijuana law has garnered much attention, the bad and the good. Among the positive responses come the ideas of creating business under the new marijuana legalization in Oklahoma. But is it that easy? Here are things that you need to learn beforehand.
The Cannabis Law In Oklahoma
Cannabis law in Oklahoma comes with a two-initiative ballot that highlights the real uses and legalization of the substance. Based on the SQ 818, the law specifies the effort to expand and revise the states’ medical cannabis program. The ballot shows that the measurement demands a new state agency known as the Oklahoma state cannabis commission.
The SQ818 itself tried to replace the Oklahoma medical Marijuana authority and oversee the responsibilities related to the use of hemp and marijuana. It also pinpoints and demands the replacement of medical marijuana products with a 7 percent retail tax. Another Oklahoma marijuana law ballot talks about the right to use act and regulation (SQ819).
Its focus is on legalizing the possession of up to eight ounces of cannabis for people aged 21 or older. The ballot also specifies that possession includes home cultivation of up to 12 plants and allowed to buy from a state-licensed retailer. The ballot also pinpoints the 15 percent excise tax for retail marijuana sales.
The Open Opportunity For Entrepreneurs
With the idea of legalizing marijuana, many people start looking into the cannabis business. Entrepreneurs have risen in number, and in a short time, the marijuana operation has grown exponentially. Those numbers can be seen from the newly established processing facilities to medical dispensaries shops.
While the opportunities are opening, the business is also under a very strict Oklahoman cannabis law. Cannabis stores, shops, and businesses should understand the tax revenue and comply with the emerging Oklahoma marijuana law and regulatory environment. While it is sound easy, the current situation of the law demands proper understanding.
Talking about law and the ballot, there is a huge gap between being an illegal and legal cannabis owner or business. There are security rules, annual, cash transactions, and limitations on possession. This is where the unique cannabis business demands proper attention to stay under the proper lay, fill out a license application, and keep on legal with the help of a lawyer.
The Business Lawyer Help
The emerging law, yet uneven and changing regulation make business lawyer has a big role in the cannabis world. People that are trying to run a marijuana business or entrepreneur can use a lawyer help to stay legal and under the proper law. Legal service and support are most needed, especially to stay and keep on track with the ever-changing oklahoma marijuanas law
The legalization of Marijuana in Oklahoma comes with good and bad responses. Some positive responses highlight the chance to open and run a business under the newly developed legalization law. But it is something complex, that you might need to consider hiring a lawyer to prevent any kind of miss and faultiest in your business.