State regulators and government officials nationwide are taking steps to ramp up enforcement against cannabis companies that fail to pay vendors, taxes or business fees.
New Jersey is the latest to take a hard line against delinquent operators, revoking cultivation and manufacturing licenses in early June from a company with unpaid fees.
ADVERTISEMENT
It joins California, Michigan and Nevada, New York and Oregon in targeting such companies.
Some of these states are implementing enforcement measures, while others are taking steps to act.
The policy shift comes amid a challenging business climate for most marijuana operators across the country as recreational markets work through overproduction, falling wholesale prices, the tolls of high taxation and compliance as well as competition from unlicensed growers, retailers and manufacturers.
Many cannabis businesses are in a no-win situation, contends Chris Lindsey, the new director of state advocacy and public policy for the American
Read full article on Marijuana Business Daily
