MEDICAL CANNABIS
IS YOUR BUSINESS READY ?
Access to legal medical cannabis is a blessing for those in need of alternative medical treatments and those poised to rake in profits from its sale . But for business owners , the new law could cause a few headaches , at least initially .
In 2021 , the Alabama Legislature passed a bill making the sale and use of medical cannabis legal in the state , and Governor Kay Ivey signed the bill into law . The Alabama Medical Cannabis Commission was formed to create regulations and license businesses to sell medical cannabis . When their work is done , Alabamians suffering from a short list of approved health conditions and who are armed with a doctor ’ s prescription will be able to buy and use cannabis to seek relief from their ailment .
The competition to get a toehold in Alabama ’ s medical cannabis industry is stiff , as experts believe its sales could approach $ 380 million in three years . There ’ s money in it for the state too ; tax revenues from the sale and fees from licenses will add funds to Alabama ’ s budget . Some figures put the sales tax haul between approximately $ 6 million and $ 11 million annually .
The expected economic windfall has made the road to the law ’ s implementation rocky ; the process is currently mired in multiple lawsuits , with several businesses who were vying for one of the valuable licenses claiming the commission has violated the state ’ s Open Meeting Acts and overstepped its power by voiding the first round of licenses .
All drama aside , it ’ s clear medical cannabis is poised to become big business . But it will also have big impacts on all other Alabama businesses . Is your company ready to deal with the implications of legalized cannabis use ?
If not , start preparing now . While recent delays are unwelcome for those awaiting the relief medical cannabis can provide ( and those hoping to jump on its profit-potential train ), the pause can help business owners and managers . Take advantage of the time and take the advice of Melisa C . Zwilling , a labor and employment attorney at Carr Allison . She asserts legalized medical cannabis will have significant impacts on employers . “ There are multiple employment issues swirling around this [ law ] change ,” she said . The first move necessary to protect your business is making a choice .
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