what to avoid in opening a medical marijuana dispensary

WHAT TO AVOID IN

OPENING A MEDICAL

MARIJUANA DISPENSARYTHE DISPENSARY EXPERTS:

HTTP://WWW.THEDISPENSARYEXPERTS.COM/

INTRODUCTION

• MEDICAL MARIJUANA MAY BE LEGALIZED ALREADY IN SOME PARTS OF THE U.S. BUT STILL, THERE ARE SOME DISPENSARY OWNERS WHO ARE NOT COMPLIANT WITH THE LAW.

• IF YOU ARE PLANNING TO OPEN A MEDICAL MARIJUANA DISPENSARY, YOU SHOULD ALWAYS MAKE SURE THAT YOU ARE FOLLOWING ALL THE REGULATIONS COVERING THE DISPENSARY BUSINESS.

• THIS IS TO PREVENT YOU FROM GETTING PENALIZED, AND WORSE, FROM FORCING YOU TO CLOSE DOWN YOUR DISPENSARY.

AVOID NOT FOLLOWING CITY RULES AND REGULATIONS• DO YOU THINK YOU CAN JUST OPEN A DISPENSARY ANYWHERE WITHOUT

GETTING A BUSINESS LICENSE?

• YOU ARE WRONG IF YOU THINK YOU CAN JUST DO THAT.

• A LICENSE IS REQUIRED SO THAT YOU CAN OPERATE LEGALLY YOUR CANNABIS DISPENSARY.

• BEFORE ANYTHING ELSE, KNOW THE DISPENSARY RULES AND REGULATIONS THAT ARE AVAILABLE IN YOUR CITY SUCH AS ZONING REGULATIONS, AND ALWAYS FOLLOW THE RULES.

• TO GET YOUR LICENSE, SUBMIT ALL THE PAPERS THAT THEY REQUIRE FROM YOU.

• DON’T EVER THINK OF OPENING A DISPENSARY WITHOUT A LICENSE.

• YOU WILL BE OPERATING LEGALLY BY THEN, AND ONCE YOU ARE CAUGHT YOU WILL BE IN GREAT TROUBLE.

• YOUR BUSINESS WILL BE FORCED TO SHUT DOWN, YOU WILL BE ASKED TO PAY A HUGE CERTAIN AMOUNT, AND MAY SUFFER FROM OTHER CONSEQUENCES, IF YOU DON’T HAVE THE BUSINESS PERMIT.

AVOID NOT PAYING YOUR DISPENSARY TAXES

• SINCE YOU ARE EARNING PROFITS FROM YOUR MEDICAL MARIJUANA DISPENSARY, IT IS JUST BUT RIGHT TO GIVE BACK TO THE COMMUNITY AND TO THE GOVERNMENT BY PAYING YOUR TAX DUES.

• THERE ARE SEVERAL DISPENSARIES ALREADY THAT ARE BEING FORCED TO SHUT DOWN BECAUSE OF ONE REASON: NOT PAYING THEIR TAX DUES.

• IF YOU DON’T WANT THIS TO HAPPEN TO YOU, ALWAYS KEEP IN MIND TO PAY YOUR TAX DUES ON TIME.

• DON’T THINK THAT YOU CAN ESCAPE THE IRS.

• IN FACT, YOU SHOULD BE MORE CAUTIOUS WITH THE IRS THAN THE DEA SURPRISING YOU WITH A RAID.

AVOID NOT KEEPING DETAILED ACCOUNTING BOOKS• SEVERAL DISPENSARIES HAVE BEEN SHUT DOWN FOR NOT KEEPING GOOD

ACCOUNTING BOOKS.

• WHEN THE IRS INSPECTED THEM, THEY FOUND OUT THAT THE BUSINESS OWNER WAS HIDING REVENUES IN ORDER TO ESCAPE THE TAX DUES.

• THIS IS ONE OF THE COMMON MISTAKES THAT ARE DONE BY ENTREPRENEURS.

• TO AVOID EXPERIENCING THIS, HIRE A GOOD ACCOUNTANT, AND BE TRANSPARENT WITH ALL YOUR TRANSACTIONS.

• DO NOT EVER THINK OF HIDING REVENUES JUST TO ESCAPE YOUR TAX DUES.

• THAT STATE WILL ALWAYS AUDIT YOU, AND IF IT IS PROVEN THAT YOU ARE HIDING SOMETHING FROM THEM, YOU CAN KISS YOUR MEDICAL MARIJUANA DISPENSARY GOODBYE ALREADY.

CONCLUSION• THERE WAS A CERTAIN INCIDENT WHEN THE DEA RAIDED SEVERAL

DISPENSARIES AND FORCED THEM TO SHUT DOWN.

• THE REASON BEHIND: THEY ARE NOT FOLLOWING THE RULES, AND THEY ARE NOT PAYING THEIR TAX DUES.

• IF YOU WANT TO STAY LONG IN THE DISPENSARY BUSINESS, ALWAYS REMEMBER TO PLAY BY THE RULES AND ALWAYS PAY YOUR DUES.