Although marijuana isn’t yet legal at the federal level, this year is going to play a crucial role in the process of marijuana legalization. If you’re interested in the new marijuana laws and want to discover a unique processor for high risk merchant processing, just read below.
New Marijuana Laws: High Risk Processor You Need
Though passed by the U.S. House, the SAFE Banking Act will enter into law after the U.S. Senate and President Trump approve it. One of the most significant things expected this year will be related to the sales of recreational marijuana and other cannabis products in Illinois.
In California, the lawmakers and activists have promised to put a ballot measure to the state’s voters this year. This would lower the taxes concerning marijuana and make the regulations simpler, thus mitigating the rapidly-growing black market for its sales.
Are you running a marijuana business and want to get a better idea on what’s going on in the space? Consider working with a true payment processing expert in the field like eMerchantBroker.com that can help you with new marijuana laws. EMB loves saving you money and time. EMB prides itself on providing the safest and cheapest high risk merchant services in the industry.
Marijuana Legalization Legislation
The situation is different in different states. E.g., the states with bills to legalize marijuana for adults include 10 and the U.S. Virgin Islands:
- New Hampshire
- New York
- S. Virgin Islands
The legislatures in other states are anticipated to take steps to legalize marijuana this year. This refers to several states such as Connecticut, New Mexico, and Rhode Island. On the other hand, in several other states, voters will be able to consider the issue themselves. In South Dakota and Mississippi, medical marijuana measures have already qualified for the November ballot this year. Similar steps are also being taken in Idaho and Nebraska. Overall, the medical marijuana laws in 33 states, D.C., Puerto Rico, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands operate effectively.
As you see, marijuana laws are undergoing rapid changes in all 50 states. Because of this, the business owners, consumers, as well as investors in the field sometimes get confused about the legal landscape. So, work with a reputable high risk merchant processor to overcome the challenges with ease.