On Monday, the Native American footprint in the cannabis industry got a little bigger.
The Las Vegas Paiute Tribe announced that it is partnering with Ultra Health, a medical marijuana production business based in Scottsdale, Arizona, to open two dispensaries and a cultivation facility in Nevada, according to the Las Vegas Review-Journal.
Ultra Health operates seven other facilities in New Mexico and Arizona.
“I think we can create a unique product. I think we can also create a unique dispensary a unique surrounding around that,” Ultra Health Chairman Benny Tso told KTNV news in Las Vegas.
The dispensaries and cultivation site will cost around $5 million, and should be finished before the end of year, KTNV reported.
Growing Ambition. Companies leverage capital, partnerships and diversification to expand beyond state lines.
Do you know if this partnership will be subject to the same taxes and fees that non tribal operations are required to pay? If not, that would give partnerships like this a great advantage in their pricing.
It is a huge advantage here in Washington State.
They must collect the 37% tax but the kicker is they KEEP it for themselves. Nice built in profit margin.
I just visited one this last weekend expecting lower prices. They are more expensive than what we have priced in our rec store.
Nice thing is, we have a knowledge advantage for now. That should even out at some point.
Duke Rodriguez is a con-man feeding on the Native people. He has defrauded numerous people and many Tribes have seen through his false claims. He does not want the tribes to benefit and is only interested in making money and running with it. I feel for the Paiute Tribe and hope their legal team has safe guards in place.
will the tribes be able to use banks for payroll taxes?