Cannabis for Pennies per Gram and Lobbying for Patient Safety
November 13th, 2014
The National Marijuana News, a subsidiary of DigiPath, Inc. (OTCBB and OTCQB: DIGP), has just released its fifth unbiased cannabis news segment, which focuses on radical changes on the horizon for the cannabis industry. Interview guests include Taylor West, Deputy Director for the National Cannabis Industry Association (NCIA), and one of the most recognized personalities in the marijuana industry, Cheryl Shuman. The audio segments are available at www.tnmnews.com.
NCIA Deputy Director Taylor West
In her interview with co-hosts Todd Denkin and Jen Gentile, NCIA’s Deputy Director Taylor West lists opening access to banking services and changing the federal tax code as NCIA’s top priorities. She notes that attempts to assure banks that they will not be held liable for processing drug money by issuing memos have failed to open up the industry.
She believes that an act of Congress assuring banks that they will “not be prosecuted for any sort of drug-related offenses if they’re working with businesses that are operating in a state-sanctioned environment” will be needed. This will enable the cannabis industry to move away from all-cash transactions that create unsafe environments for patients and employees, and also complicate tracking and accounting.
Section 280E of the Internal Revenue Code (Code) was enacted in 1982 to disallow deductions incurred in the business of trafficking controlled substances, such as cannabis. According to West, the Code, which was conceived to target drug traffickers, unfairly impacts legally operating cannabis businesses, such as dispensaries, by prohibiting them from deducting many expenses, such as payroll, and forcing them to pay an effective tax rate of approximately 70 to 80 percent.
Cannabis Entrepreneur Cheryl Shuman
Cancer survivor Cheryl Shuman, who calls herself both “The First Lady of Cannabis” and the “Martha Stewart of Marijuana,” is a bold and outspoken advocate for marijuana legalization, who spearheads commercial and nonprofit efforts to brand and market marijuana.
In her interview with TNMNews, Shuman recalls her recent travels to Israel, and lauds its model, which allows doctors and nurses to prescribe and administer cannabis like any other drug. She also describes her explorations in Uruguay, a country with the ability to export cannabis for just pennies per gram, and its potential for changing the economics of the cannabis industry.
Shuman acknowledges she is a controversial figure, arguing that someone has to “take the lead here, and educate people, because how we change minds and how we take cannabis from the criminal sector into the lawful sector is through education and awareness.” According to Shuman, “I feel like if I have to take a few hits, and some people don’t want to listen to what I have to say, I’m okay with that…my job is to get the topic of cannabis at the dinner table and at the water cooler.”
For more information about TNMNews, please call (800) 549-0859 or go to: www.tnmnews.com.
To book a guest or to advertise on TNMNews, please contact:
About The National Marijuana News
TNMNews examines the medicinal, political, scientific, professional, and social aspects of the controversial cannabis industry, which is legal in 23 states and the District of Columbia. The radio program goes deep and personal, exploring how cannabis has changed lives, and looks to the future with its potential to reshape the economy. TNMNews seeks to report and explore the subject of medical and recreational cannabis from diverse perspectives, with an open-minded, fact-based approach.
The news program was soft-launched in June 2014 and has experienced an overwhelmingly positive response, growing its audience from week to week. TNMNews hopes to expand its program to terrestrial radio stations in major US markets while continuing to build a digital audience. TNMNews Corp. is a wholly-owned subsidiary of DigiPath, Inc.
About DigiPath, Inc.
DigiPath, Inc., supports the cannabis industry’s best practices for reliable testing, education, and training, and brings unbiased cannabis news coverage to the cannabis industry. Our four business units are DigiPath Labs, TNMNews, DigiPath Corp., and DigiPath University.
For more information, go to www.digipath.com.
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