Colorado Criminal Defense - Medical Marijuana Business Consultations
My Blog

March 2011

Bond up by May 1, 2011

As you know, your sales tax surety bond is due no later than May 1 UNLESS the MMED asks for it sooner.
I have included a list of brokers who all can help your get the needed sales tax surety bond
Please be aware that the bond premium is credit based - so if you have bad credit your bond premium will be higher.  With great credit the premium should be around $100.00
Ameribonds: 800-995-0997:  ask for Rachel, Becky or Hanna.  Turn around time for a quote is generally within 24 hrs.

IRS: Let the audits begin

Today I became aware of the first IRS audit of a Colorado MMC.  IN question is their 2009 return.  MMCs might want to consider filing for an extension of their 2010 taxes while this gets figured out.

Micro rules: Inventory

1.205 Creates a very broad definition of inventory for MMC/OPCOs.
Please note:
Clones, placed in a growing medium, count as plants.
Kief, leaf, shake, concentrates, and oils count against the 2 ounces weight limit.

77 page DOR microrules

The final draft of the proposed DOR micro rules was released by DOR last Friday at 6 a.m.
But for review by the attorney general's office for State compliance, these rules are done and should be signed within the next few weeks.
Please note, most of them are effective 7/1/11.

New Registration List

Under the 77 pages of rules proposed by DOR, 1.200 on page 4 sets up a new "list" and application requirement.
"The new Primary Center shall also maintain written authorization from the patient and any relative plant count waivers to support the number of plants designated for that patient and shall report the assignment by a patient of its Primary Center to MMEd within seventy-two (72) hours."
Ie: The center needs to create their own form to send into MMED, NOT CDPHE,  indicating that a patient has named them as the primary center
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