This 2014 election had many hot topics to vote on. One of the big topics that many American’s were tracking is the legalization of marijuana. Many states, including Alaska, Oregon, California and Michigan, were voting for legislation with tax and regulation. States like Florida were voting for the use of medical marijuana and Washington D.C. and Maine were voting for semi-legalization.
The voters approved the ballet, making it legal for anyone 21 and over to possess and grow a limited amount of marijuana. This allowed the following types of regulated businesses: growers, product manufacturers, wholesalers and retailers. This also established a $35/ounce tax on the sales of marijuana flowers. According to npr.org, the state's legislative revenue office recently estimated that "in fiscal year 2017, the revenue from legal marijuana is expected to be $16.0 million with a lower range of $13.1 million and an upper range of $19.4 million." This issue won with around 54% of voters in favor of the legalization of marijuana.
Alaska voters made it legal for adults 21 and over to possess and grow marijuana. This allowed the following types of cannabis businesses: labs, growers, product manufacturers and retailers. In addition to these types of businesses, there is now a $50/ounce tax on sales from growers. 52 percent of citizens voted for the law.
D.C. has approved the legal use of marijuana for recreational use, with 65 percent of people voting in favor. This law will allow people to possess up to 2 oz. of marijuana and cultivate up to three plants at home without criminal penalties.
The National Cannabis Industry Association released a press release on these three wins, stating, “These successes are another indication that Americans increasingly believe there is a better way to approach cannabis. Congratulations to Oregon, Alaska, and Washington, D.C., for helping lead the nation toward that better way.”
With more states legalizing marijuana, so does the opportunity for product and packaging manufactures to expand their target audience to this market. Many experts believe that many more states will follow in the next election, so the need within the healthcare packaging industry for medical cannabis packaging closures will only grow.
To see what MRP offers for the cannabis packaging market, click below:
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