The Massachusetts Medical Marijuana Dispensers' Association (MMMDA) is having a full day seminar on March 30, 2013, to teach potential dispensary license holders how to fill out the application that will be put forth by the state. A number of other associations have held meetings offering attendees the chance to meet growers and dispensary owners in other states, but this is the first hands on meeting to teach potential applicants how to put together a package that will improve their chances for becoming licensed. The potential grading matrix will be discussed with all present.
At the seminar on March 30, the attendees will spend from 8 a.m. to 5 p.m. In a series of workshops covering each part of the application, and how to craft answers that will convince the evaluating team that the writer has produced a far superior package than the competition. Covered in the course will be setting up the corporate structure, bylaws, creating all the necessary compliance forms, a dispensary business plan, operation handbook, inventory control and forms, growing guide for medical marijuana, employee handbook, HIPAA compliance, city and state permitting, financial forecasts and corporate and tax protection.
According to Robert Carp, the executive director of the Massachusetts Medical Marijuana Dispenser’s Assocation, “Up to half of the dispensaries first opened will fail within twelve months because of an incorrect corporate structure that will be vulnerable to attack by the IRS because of the federal prohibition of tax deductions for Class I drugs.” Unless a proper corporate structure with trusts are put into place, a dispensary owner will find themselves under tax liens, and possibly criminal charges. The MMMDA has worked with a number of clients to help build these structures, and will be detailing them at the conference on March 30 at Pine Manor College, in Brookline, Massachusetts. For further details, visit www.baystatecannabisgrowers.com, or call the MMMDA directly at 617-431-7530.