Marijuana and Other Highly Regulated Businesses

Prior to 1996, when California became the first state to legalize the medical use of cannabis (or marijuana), the idea of a "legal" marijuana business was unheard of. But as more states loosen their drug laws, allowing for medical and even recreational use of the herb, the industry has grown exponentially. The main caveat, of course, is the federal government's drug laws, which still classify marijuana as a Schedule I drug. For now, the marijuana industry is beholden to a tangled web of often contradictory federal, state, and local laws. But for entrepreneurs willing to wade through the confusion and take on additional risk, the rewards are potentially huge. FindLaw's Marijuana and Other Highly Regulated Businesses section covers the basics of setting up a marijuana business, relevant state laws, how to obtain financing, the basics of licenses and permits, marijuana-related tax issues, and more.

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