Ep. 41 Analyzing 2020 Cannabis Legalization Ballot Initiatives

Cannabis legalization has received plenty of attention these past few elections, taking the plant from being recognized as just another commodity (in just a handful of states) to an economic game-changer nationwide. Even with the coronavirus pandemic, Cannabis companies have been deemed essential in some states, while many others issued stay-at-home orders that required countless businesses to scale back, or even close, operations. Many Canna companies have experienced record-breaking sales the last few months.

The revenue that this industry has generated did not go unnoticed by local governments, and many states are trying to push for legalization this November. Which states will likely legalize, and which will need to wait? Listen in as DOPE CFO co-founder Naomi Granger, MBA, CPA delves into ballot initiatives for November 2020 and discusses which states are most likely to see Cannabis legalized.

Key points she’ll cover include:

Reasons why states should legalize Cannabis: the industry is stable and not going anywhere (and could likely restore jobs to the more than 30 million Americans who have filed for unemployment, and may remain unemployed long after the country has reopened).

Approved proposed amendments: learn which states, like New Jersey, are close to legalization (New Jersey is sitting with 61% in support of its 2019 approved proposed amendment to put Cannabis sales on the 2020 ballot).

Campaigns limited by government: learn how campaigns that are positioned to benefit residents medically in states like Mississippi and South Dakota may be hindered by lawmakers seeking to rewrite the initiatives (and how this can affect the guidelines drafted by citizen-backed campaigns).

Unrealistic expectations: Minnesota is one state that might be overshooting its hopes and may have to wait a couple more years (with a proposal for eight-plant home grows, social use, and expungement of most Cannabis convictions. )

If you are an accountant and are interested in taking action now, contact Naomi directly at [email protected], or book a call here, and she can answer any questions you might have about tapping into your potential in the Cannabis industry. For more information on getting started, make sure you subscribe to our podcast for great tips and updates!

Or, check out our FREE Cannabis Accounting Guide by texting DOPECFO to 345345

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