Imagine walking into your workplace one morning and learning your bank card services had been terminated overnight. These were cut off not for not enough payment and not if you are involved with an illegal business, but instead they certainly were cut off for indeterminate “unacceptable business practices.” This is a reality facing many owners of medical marijuana dispensaries who get “creative” using their applications; and in the event that you fabricated your application it could be a legitimate termination – but that isn’t always the case.
Left Without Service
The story above isn’t uncommon. It just happened recently to Alternative Medical Choice, Inc., a consultation service based in Oregon. What does AMC accomplish that got them in trouble using their company Intuit? AMC is a small business which provides consultations with doctors for the approval of medical cannabis use under Oregon law. Even although clinic doesn’t dispense or distribute medical cannabis, it has lost its services.
Intuit states they terminated services because AMC did not reveal its involvement with medical marijuana. When further questioned about terminating some 3000 other accounts they hold with clinics offering the exact same services, they stated that they’d not be terminating those accounts simply because they didn’t feature medical cannabis on the web pages. AMC offered to get rid of the reference, but Intuit won’t reestablish the account because “now we know.”
PayPal, the web payment service, has additionally terminated accounts related to medical marijuana consultation references.
DEA, FDA, IOM and Other Alphabet Soup
The main problem businesses face stems from the question of whether marijuana is clearly medicinal. The DEA and the US government hold the position that smoking marijuana does not have any medical value. Jungle boys clothing The American Cancer Society, the AMA and the AAP all agree totally that smoking isn’t an optimal method by which to get any benefits, should they exist. Alternate methods of ingestion are now being investigated.
Even the large Institute of Medicine study frequently cited by proponents of medicinal marijuana actually opposes the utilization of smoked marijuana for medical benefits. The analysis found that there have been some “potentially therapeutic” benefits to cannabinoid drugs, primarily THC, but that other available medication offered better results. The possible lack of standardization, the method of dosage and other factors all result in the IOM rejecting the idea of more studies.
Where Do We Go Next?
The same as a great many other hot potatoes, few people want to take care of this one. For those who have opened dispensaries, the challenges involved with obtaining traditional financing, accounts and services have sometimes become overwhelming. For other individuals who remain in the commercial, alternatives are available.
While selling cannabis online remains illegal, the Internet is a good place to look for companies willing and even eager to enter the market. By searching designed for merchant account providers acquainted with the risks involved with legal medical marijuana sales, entrepreneurs can find the services they might require without obfuscation.
With 15 states and the District of Columbia already de-criminalizing the sale of marijuana products for medicinal purposes it is likely that the problem can come to a head soon. Some states, such as for instance California, are planning to charge dispensaries sales tax on all their transactions – leaving such a cash cow alone when state coffers are stripped bare is unimaginable. The question remains: how will the federal government respond to the move?
Is it About Money or Perception?
It is straightforward to assume the federal government moving in either direction.
Cannabis remains illegal in all the world, and possession is known as a capital offense in lots of countries. The US government is unlikely to want global opinion to be so effected. On another hand, the taxes given by legalizing a currently flourishing industry could reach $2-6 billion.
Unfortunately for merchants, there’s no conclusive argument only at that time. Obtaining business services will remain difficult and sudden terminations likely until all government agencies, state, local and federal are on a single page.