Regulations permitting state-licensed medical cannabis dispensaries to also engage in retail sales to those ages 21 or older take effect on Thursday, October 1. An estimated 200 facilities are anticipated to begin providing cannabis to adults.

Customers will be permitted to purchase up to a quarter ounce of herbal cannabis daily, but they will not be allowed to obtain cannabis-infused products until early next year.

Legislation approved by voters in November and enacted on July 1 allows those over the age of 21 to legally possess up to one ounce of cannabis and/or to engage in the non-commercial cultivation of up to four marijuana plants (yielding up to eight ounces of marijuana). Separate provisions in the law license, regulate, and tax retail sales of cannabis beginning January 4, 2016. However, separate legislation (Senate Bill 460) signed into law in August permits licensed medical dispensaries the option to engage in provisional, tax-free retail sales of cannabis during the interim.

Colorado and Washington presently permit retail sales of cannabis, while similar regulations are forthcoming in Alaska. (A voter-initiated law in the District of Columbia permits adults to possess and grow marijuana legally, but does not provide for a regulated commercial cannabis market.)

Tax revenue derived from retail cannabis sales in Washington have total $90 million in the first 15 months, while taxes derived from sales in Colorado have totaled $70 million in the past year.

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Source:: Weed Feed