Accountants in Arkansas can now serve medical marijuana firms

CPA’s in Arkansas can now serve licensed medical marijuana firms.

LITTLE ROCK (KFSM) — Arkansas accountants might have been given the all clear to provide professional services to medical marijuana businesses in the state, but some of the largest accounting firms in Northwest Arkansas and the Fort Smith metro are weighing their options on whether they’ll serve them anytime soon.

On Aug. 18, the Arkansas State Board of Public Accountancy concluded accountants who provide professional services to medical marijuana businesses that are licensed or in the process of being licensed to operate in Arkansas will not be perceived as lacking “good moral character,” and the service provided won’t be “considered an act discreditable to the profession.”

Nevada Adopts Emergency Rules for Sales of Marijuana

From the Cannabist:

CARSON CITY, Nev. — Nevada moved Thursday to reduce supply problems at recreational marijuana stores that have faced overwhelming demand for newly legal pot and the possibility of their shelves going empty.

Regulators approved emergency rules that would speed up licensing for pot distributors, a sticking point that launched a legal battle and threatened the flow of supplies after dozens of retailers started selling recreational marijuana on July 1.

Nevada’s law is unique among legal pot states, dictating that only alcohol wholesalers can transport the drug from growers to storefronts for the next 18 months. But the state rewrote the rules Thursday used to enforce the state’s pot law to make it clear that it’s legal under certain circumstances to license some retailers to transport pot from growers to storefronts.

Hawaiian MMJ Cluster…….

Hawaii legalized medical marijuana nearly 17 years ago, they started licensing dispensaries in 2015, but they still haven’t approved any labs to perform the required tests on the product.

This is from the associate Press:

HONOLULU (AP) — Medical marijuana dispensaries are beginning to open in Hawaii, but they’re not allowed to sell their products.

Instead, the leafy medicinal greens they’ve harvested are sitting on a shelf unsold because nearly a year after dispensaries were legally allowed to open, the state has not yet certified any labs to run required safety tests.

That means dispensaries such as Aloha Green on Oahu have no income despite payroll, rent and operations expenses that top $100,000 a month.

The dispensaries were supposed to open in July 2016, but legislators haven’t approved any software to track product from seed to shelf.

The labs haven’t been able to test the product because the regulations were changed.

And so-on.

With both politicians and bureaucrats involved nothing can possibly get done quickly.

Seminoles Entering the MMJ Business

According to this article in Leafly, the former Seminole chairman, Jim Billie is trying to bring the MMJ industry to Indian lands.

On Tuesday, Nevada-based Electrum Partners announced a partnership with MCW, a company owned by Billie, the longtime Seminole leader who lost his official tribal position in October 2016. The Seminoles, one of the most well-known names in Indian Country, currently own and run five Seminole Casinos in addition to two Hard Rock Hotel & Casino facilities in Florida.

Judging by their success in the gambling industry, once it gets through the courts they should do well.

The passage of the Indian Gaming Regulatory Act in 1988 eventually led to a dispute between the Seminole Tribe and the state of Florida, with Billie spearheading the effort to have the case heard by the United States Supreme Court. The court found in favor of the tribe’s right to apply sovereignty to gaming operations. Thanks to that decision, the tribal gaming industry has grown into a $27 billion industry, or more than twice the annual revenue of the National Football League.

Nevada Early Start Rec Use Could be Delayed

There is a very real chance that the early start for recreational marijuana use, as passed by the Nevada Tax Commission could be delayed.

According to the Review Journal:

A Douglas County attorney claims the Nevada Tax Commission violated open meeting law because marijuana and other words were absent from a recent meeting agenda.

Jim Hartman, from Genoa, filed the complaint Wednesday with the Nevada attorney general’s office. The complaint references the May 8 meeting in which the tax commission adopted temporary regulations to allow recreational marijuana to be sold starting July 1 — about six months earlier than called for by Question 2.

Hartman claims the meeting’s agenda violated the law because it did not reference “marijuana,” “early start” or “Question 2.”

I’m reserving comment.