This site has an excellent patient and caregiver Frequently Asked Questions. Check it out.
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This site has an excellent patient and caregiver Frequently Asked Questions. Check it out. Question: Does a medical marijuana dispensary that is legal under state law have anything to fear from the Internal Revenue Service? Answer: Yes. In 2007 the United States Tax Court issued its opinion in the case of Californians Helping to Alleviate Medical Problems, Inc. v. Commissioner of Internal Revenue. The issue in this [...] Question: When my nonprofit entity files its application for a dispensary registration certificate, must it have a conditional use permit from the city in which the dispensary will be located? Answer: Maybe. Arizona Department of Health Services Rule R9-17-304 states: To apply for a dispensary registration certificate, an entity shall submit to [...] Question: Are there any special clauses my dispensary should include in its contract with its medical director? Answer: Yes. The contract should be an independent contractor agreement, not an employment agreement. The contract should contain the standard clauses found in a good lawyer drafted independent contractor agreement plus the following clauses unique to [...] Question: I know my Arizona medical marijuana dispensary must be operated on a not for profit basis, but does not have to be an Arizona nonprofit corporation. Why would I want to form an Arizona nonprofit corporation that is also a tax-exempt organization under the Internal Revenue Code? Answer: Neither the Arizona medical [...] Question: My landlord wants the owners of my Arizona medical marijuana dispensary nonprofit entity to sign a Personal Guaranty. What is it and should the owners sign the guaranty? Answer: A Personal Guaranty is a promise by the guarantor to pay the debt of a third party or to satisfy an obligation of [...] Question: I own real property that is zoned for an Arizona medical marijuana dispensary or cultivation site. How can I increase the chances of obtaining a tenant that will actually obtain a dispensary registration certificate and become a long term paying tenant? Answer: Easy. Lease your property to more than one prospective dispensary [...] Question: My attorney put language in the Articles of Incorporation for my Arizona medical marijuana nonprofit corporation that say it will be operated as a 501(c)(3) charitable organization and that no part of the earnings of the corporation can go to insiders. Is that a problem? Answer: Yes. Big time! If you want [...] Question: My attorney formed an Arizona nonprofit corporation for me to own and operate an Arizona medical marijuana dispensary. Was that a mistake? Answer: Yes because Arizona nonprofit corporations do not have owners/shareholders. Why would you invest a lot of money in an entity that you cannot own and cannot leave to your heirs if [...] Question: Must all owners, officers and members of the board of directors of an Arizona medical marijuana dispensary be a citizen of the United States? Answer: Apparently “the principal officer” or one board member must be a U.S. citizen as of today, January 26, 2011. It appears that no other owner, officer or [...] Question: Arizona Department of Health Services’ first draft of the medical marijuana dispensary rules requires that all officers and directors of Arizona medical marijuana dispensaries be Arizona residents for at least three years. I don’t satisfy the residency requirement so how can I be involved in a dispensary now and become an owner when I [...] Question: I estimate that my Arizona medical marijuana dispensary will need $250,000 to open its retail store. Should I loan the money to the nonprofit entity or should I pay it to the entity as a capital contribution? Answer: You should discuss this question with your accountant. There are significant differences in the [...] Question: An Arizona business has a website on which it is offering to put together a group of people to own minority interests in an entity that will seek to obtain a license to operate a medical marijuana dispensary in Arizona. In exchange for paying $25,000 I would become a part owner with several other [...] Question: I am an Arizona physician who is considering offering my services to be the medical director of an Arizona medical marijuana dispensary. Does every dispensary need a medical director? What are the duties of the medical director under the Arizona Department of Health Services rules? Answer: The Arizona Department of Health Services rules [...] Question: Should I be the sole owner of my Arizona medical marijuana dispensary? Answer: Probably not. Although the Arizona Department of Health Services rules allow an Arizona medical marijuana dispensary to be owned by a single person (a sole proprietor) or a company that has only one owner, I strongly recommend that no [...] Question: What are the various types of contracts needed by all Arizona medical marijuana dispensaries? Answer: The following is a list of the contracts that all Arizona medical marijuana dispensaries need. Because of the unique nature of the business and the risk that an improper action by an employee, independent contract or dispensary [...] Question: Must I know my Arizona medical marijuana dispensary and cultivation locations before I file my application with Arizona Department of Health Services to obtain a dispensary license? Answer: Yes. Arizona Revised Statutes Section 36-2804 states: “Not later than ninety days after receiving an application for a nonprofit medical marijuana dispensary, [...] Question: Can I create a business in Arizona that only grows marijuana and sells it to licensed medical marijuana dispensaries? Answer as of 1/31/11: Yes. The January 31,2011, second draft of the rules eliminated the requirement that all dispensaries grow any portion of the marijuana. A condition to growing, however, is that the grower must [...] Question: I’ve formed my nonprofit entity and want to open a bank account in the name of the entity. Will my bank refuse to open an account because the business is growing and selling medical marijuana? Answer: Maybe. If your entity has the word “marijuana” in its name, you may be dead in [...] Question: What are Bylaws & Must My Dispensary Adopt Bylaws? Answer: Black’s law dictionary defines Bylaws as “a rule or administrative provision adopted by an organization for its internal governance and its external dealings.” Bylaws have traditionally been a set of rules adopted by the Board of Directors of a corporation to govern [...] Question: Must an Arizona Medical Marijuana Dispensary be a Nonprofit Corporation? Answer: Apparently not! Although the text of Proposition 203 says that an Arizona medical marijuana dispensary must be a ““a not-for-profit entity that acquires, possesses, cultivates, manufactures, delivers, transfers, transports, supplies, sells or dispenses marijuana or related supplies and educational materials to [...] Question: Must My Nonprofit Arizona Medical Marijuana Dispensary Be a Federal Tax-exempt Organization? Answer: No and thankfully no! Arizona Revised Statutes Section 36-2806.A states: “A registered nonprofit medical marijuana dispensary need not be recognized as tax-exempt by the Internal Revenue Service.” If Proposition 203 required dispensaries to become tax-exempt organizations, the IRS would [...] |
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