When Lisa Capitani decided to start a small business to educate and guide medical marijuana patients, she knew she’d need some advice. So Capitani, a nurse who lives in Newtown, turned to other nurses across the country who have cannabis-related businesses. And she applied for a mentor through SCORE, a nonprofit that provides free mentorship and advice to people looking to launch businesses. But her application was recently denied because the program is funded through a U.S. Small Business Administration grant, and marijuana use is illegal at the federal level. Capitani’s experience represents just one of many extra hurdles that often hobble cannabis-related businesses before they get started. Cannabis-related businesses often struggle to get start-up loans. They’re denied assistance programs. They can’t take the same tax deductions as other businesses. They can’t even use Quickbooks. These barriers tend to stem from the same issue: State legislation contradicts federal law regarding the legality of cannabis.

420 Intel – Marijuana Industry News, 11/28/2021 19:00:00

Open article: https://420intel.com/articles/2021/11/29/federal-law-poses-challenges-new-ct-cannabis-businesses