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How To Start A Florida Marijuana Business

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So You Want To Start A Florida Marijuana Business?

We here at the Florida Medical Marijuana Directory have started getting a lot of questions from readers about how to start a Florida marijuana business. Hence, we put together this short article of what folks should start thinking about if they want to have a successful Florida marijuana business in the future when medical marijuana in Florida becomes more broadly legal:

Understand Florida Marijuana Laws

Currently, there are two existing Florida marijuana laws. The first is the Right to Try Act (section 499.0295 of the Florida Statutes), and the second is the Florida Compassionate Use of Low-THC Marijuana and Cannabis Act (section 381.986 of the Florida Statutes). You can find more information about current Florida marijuana laws here. In addition, the United for Care marijuana petition is currently expected to pass in November, 2016. It is important for anyone thinking about starting a Florida marijuana business, therefore, to take a look at these existing laws and the Florida constitutional provision that is expected to pass in November to see exactly what kinds of Florida medical marijuana will likely be available and what businesses might successfully profit in the future under these law.

Look At The Laws And Regulations In Other States

As you know, states like California and Colorado already have existing medical marijuana regulatory schemes. Since regulations under the new Florida marijuana laws have not been finalized yet and are likely to change again once the United for Care petition passes, it is important to look at the regulatory structures and rules from other medical marijuana states to see exactly what kinds of limitations and businesses will likely be applicable in Florida. It is too early to tell what the Florida regulatory scheme that is eventually adopted either later by statutory amendments adopted by the Florida legislature or as formal rules adopted by the Florida Department of Health (and perhaps the Florida Department of Medicine) will look like, but it is anticipated that the regulations in Florida will be fairly strict. As such, reviewing the strict regulations from other states will probably provide a good model for potential Florida marijuana business owners in this state.

Local Government Issues

It is not enough for potential Florida marijuana business owners to examine the law and regulations that currently exist or are likely to exist throughout the state of Florida. Rather, potential Florida medical marijuana business owners also have to look at local laws and zoning to further assess whether a Florida marijuana business such as a dispensary and the like would be legal in the local jurisdiction where they plan on opening. Some cities and municipalities, for example, have already passed bans on medical marijuana businesses within their limits. So start researching that now (and plan accordingly).

Decide On The Kind Of Business Structure

That is, decide, based upon researching online, whether your potential business should be a corporation, a limited liability corporation, a partnership, a limited liability partnership, or some other corporate or business entity. Once you have made that decision, you can register your new Florida corporation directly by going to sunbiz.org.

Remember Federal Law

Keep in mind that cannabis is still regarded as a Schedule I drug by the federal government and is, thus, illegal. That being said, there are current initiatives pending in Congress that would extend the current moratorium prohibiting the Federal Drug Enforcement Agency from spending any monies to enforcing federal marijuana law in states where medical marijuana is legal. There is also a current effort to get medical marijuana declassified from Schedule I to Schedule II under the controlled substances laws and regulations, and this would also change (that means, decrease) the potential onerousness of any federal threats.

Florida Marijuana Businesses: Summary

Based upon all the current polling, it is a safe bet that the United for Care medical marijuana petition will pass in November. In addition, as outlined above, there are two existing Florida medical marijuana laws already on the books in Florida. Hence, if you are thinking about starting a medical marijuana business in Florida, the time to start thinking more seriously is definitely now.  You should also realize that the competition for future Florida medical marijuana dispensary licenses is likely to continue to be extreme. As such, it is especially important that our readers start getting their ducks in a row now, including finding the best and most experienced and reputable partners, as needed.

 

As always, we here at the Florida Medical Marijuana Directory will keep you posted as the Florida marijuana laws and regulations in Florida continue to evolve and advance in this state.

Check back here often as we will be updating our Florida marijuana business information and guides for all those who are interested in starting a Florida medical marijuana business in the Sunshine State. Readers should also begin putting their business plans together, including budgets, as this will be important in determining whether or not a Florida medical marijuana business is likely to be profitable or successful.

If you already have started a Florida marijuana business, please go to our sister site, the Florida Marijuana Directory, and register your Florida marijuana business for free!

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