Marijwhatnow? Marijuana
Legalization in Washington
Wednesday, October 1, 2014
Education: New York University, (BA, 1991)
-Member Phi Beta Kappa
University of Washington School of Law, (JD, 1997)
Practice Areas: Land Use Law
Real Estate Law
Business Law
Recreational Marijuana Business Law
Heather Wolf, Partner
Contact Information:
(360) 676-0306
www.brownlieevans.com
http://www.brownlieevans.com/recreational-marijuana-business-resources/
What does the law allow?Anyone over the age of 21 can
possess and privately consume:
-Up to 1 ounce of dried
marijuana
-Up to 16 ounces of marijuana
infused edibles
-Up to 72 ounces of marijuana
infused products in liquid form
-Up to 7 grams of concentrated
hash
Where can you buy marijuana?
Buying marijuana
prior to legalization
First legal retailers!
Only 334 Retail Licenses have
been made available through State lottery
Where can you
consume marijuana?
Can I drive high?
Who can grow?
Only licensed producers can grow, it is still
illegal to grow your own marijuana
Three Tiers
Tier 1: Less than 1,400 square feet
Tier 2: 1,400 square feet to 7,000 square feet
Tier 3: 7,000 to 21,000 square feet
Where can I set up my
marijuana business?
You cannot be within 1,000 feet of
any elementary or secondary school,
playground, recreation center, child
care center, public transit center,
library or game arcade
Backlog of Licenses• 2,600 Production License Applicants submitted
• Only 235 production licenses have been
issued to date
• 16 in Whatcom County
• About 9% of the applicant pool has been licensed
From July 1, 2014 to September 29, 2014
marijuana licensees have generated
$18,750,944 in sales, and $4,687,736 in
excise taxes system wide
Legal Issues faced by
Applicants and Licensees
Financing?
?
Federal Taxation and Bankruptcy
IRC § 280E
“No deduction or credit shall be allowed for any amount paid or
incurred during the taxable year in carrying on any trade or business if
such trade or business (or the activities which comprise such trade or
business) consists of trafficking in controlled substances (within the
meaning of Schedule I and II of the Controlled Substances Act) which
is prohibited by federal law or the law of any state in which such trade
or business is conducted.”