Amid the hubbub of the presidential election, voters approved marijuana initiatives in eight of the nine states where it was on the ballot, according to an article in the Journal of Accountancy, which lays out the details. Of course, this means new businesses will be created that will need financial services, including appraisal services.
Big business: A total of 31 states and jurisdictions now have legal marijuana in some capacity. If the momentum toward legality includes all states by 2020, U.S. retail marijuana sales could reach $35 billion, according to a new guide, What It’s Worth: Value and Business Challenges in the Budding Cannabis Industry. That’s serious business, but a business fraught with risks, partly because marijuana is still an illegal substance under federal law. There’s also state and local oversight as well as leasing, banking, cash, and security issues. Top valuation experts cover all this in the new guide. Another resource is the Marijuana Licensing Guide, 2017 edition,which provides the latest marijuana laws and licenses by state.
Extra: President-elect Donald Trump's nomination of Alabama Sen. Jeff Sessions to be the next attorney general has raised fears that the new administration could crack down on weed-tolerant states and crimp industry growth.
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