Wednesday, April 18, 2018

WSLCB: Interim Policy for Cannabis Retail Title Certificates explained

Today, the #LCB released a new ruling "Interim Policy for Cannabis Retail Title Certificates". What does this mean?  Here's a brief section of the released policy article, which clarifies the end result.


Currently, licensees in municipalities which have prohibited cannabis sales have been obligated to spend cash to keep their licensed business as though it was operating actively to maintain the license - even though it could not generate any income.

Today's ruling affords licensees the opportunity to request a Retail Title Certificate which allows them a great amount of freedom from obligation with no expectation of recompense/recoup of losses - not even through traditional means like business tax write offs (see this article about 280E).

Right now, this is an Interim Policy, and a rule is in the early proposal stages.

So essentially, this is another set of requirements to meet (there's most of a page), but then you can 'close up shop' literally - because you don't even need a physical location - until there's a chance to move or modify the license, or the municipality reverses the decision. Who knows how many will meet the requirements set forth in the linked article at the LCB site?




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