West Virginia Medical Cannabis Business & Marijuana Legal News

WV gov vetoes cannabis bill that would tax vertically integrated firms at lower rate

West Virginia Gov. Jim Justice vetoed a medical marijuana bill because he said it “favors wholly vertically integrated businesses” by taxing them at a lower rate than stand-alone cultivators, processors and retailers. Mike Pushkin, a Democratic delegate and sponsor of the bill, told The Register-Herald of Beckley that the governor’s veto “sets back the entire […]

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West Virginia law clears path for medical marijuana banking

West Virginia’s governor penned a medical cannabis banking bill into law that will allow financial institutions in the state to bid on providing banking services surrounding the state’s MMJ program, MetroNews reported. That clears one obstacle to the rollout of the West Virginia’s program. House Bill 2538, which Gov. Jim Justice signed Tuesday, also institutes the Treasurer’s […]

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WV Senate approves banking fix to medical marijuana law, sends bill to governor

The West Virginia Senate has passed a bill addressing banking services for the state’s medical cannabis program, removing an obstacle that had slowed the MMJ industry’s rollout in the state. The Senate approved the bill 29-4 on Tuesday. It now goes to the governor. The bill would authorize the state to allow financial institutions, including […]

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West Virginia AG: Banks risk defying fed law when serving medical cannabis firms

West Virginia’s financial institutions face risks when providing banking services to medical marijuana businesses because cannabis is illegal under federal law, the state’s attorney general, Patrick Morrisey, wrote in a new opinion. Banking has been one sticking point in the rollout of West Virginia’s medical cannabis program, which has been delayed by disagreements over rulemaking. According […]

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Chart: Timeline for launch, projected sales in seven new marijuana markets

More than 60% of the U.S. population now lives in states that have legalized some form of marijuana use and sales, illustrating both the rising acceptance of cannabis nationwide and the industry’s immense potential for future growth. Several medical marijuana and recreational programs have yet to get off the ground, however. Here’s an update on […]

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Marijuana industry banking woes: Here’s how some states are struggling to address them

U.S. cannabis companies are forecast to bring in as much as $10 billion in retail sales this year, according to the Marijuana Business Factbook 2018. But much of that money will go unbanked by financial institutions wary of possible sanctions for servicing businesses considered federally illegal. However, as more states legalize cannabis, regulators and lawmakers are […]

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West Virginia mulling payment, banking options for medical marijuana companies

In advance of the launch of West Virginia’s medical cannabis industry, the state treasurer has proposed potential solutions for MMJ companies in need of payment and banking solutions to avoid operating on an all-cash basis. According to the Charleston Gazette-Mail, Treasurer John Perdue has floated two different possibilities to Gov. Jim Justice: Create a third-party […]

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Bill to refine West Virginia’s medical marijuana rules fails

A bill that would have made several changes to West Virginia’s medical marijuana law failed when the state’s legislative session ended last weekend. West Virginia’s medical marijuana program was set to launch in 2019, but the bill’s failure Saturday night and an opinion from the state treasurer have put the rollout on shaky ground, WVNews.com reported. […]

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West Virginia may allow smokable medical cannabis

West Virginia’s medical marijuana board will recommend that state lawmakers allow patients who meet certain requirements to buy smokable forms of the medicine, a move that could boost MMJ sales. Such a move would also buck a trend in several other states that have also legalized MMJ but banned either the sale of marijuana flower […]

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New US medical marijuana markets – one year later

If it was a big year for recreational marijuana in 2016, then it was a huge one for medical marijuana.

Voters or state legislatures in 11 states – Arkansas, California, Florida, Hawaii, Louisiana, Maryland, Montana, North Dakota, Ohio, Pennsylvania and West Virginia – approved or advanced medical cannabis measures.

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West Virginia seeks $2 million to start medical cannabis program

West Virginia regulators are anticipating the state will need about $2 million to launch its medical marijuana program. State health officer Dr. Rahul Gupta told both the state Senate and the House of Delegates the program could potentially be funded through an “internal loan,” the Charleston Gazette-Mail reported. The biggest portion of the program’s expected […]

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West Virginia taking applications for hemp cultivation

Farmers in West Virginia can now apply to cultivate industrial hemp for commercial purposes, making the Mountain State the latest to show an interest in growing the plant. The agriculture commissioner began accepting applications from would-be hemp farmers on Tuesday, the Charleston Gazette-Mail reported. Successful applicants would join members of the West Virginia Farmers Association who hold […]

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