The Benefit of Achieving Tier III Classification for Marijuana and Cannabis Related Businesses | Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C.

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In 2020 the legal segment of the marijuana industry exceeded $10 billion dollars in the United States with California alone generating $3.1 billion in sales in 2019, and Colorado in a close second at $1.6 billion. With the solidified foothold the industry has gained in the marketplace and the sheer lucrativeness of the industry, previously unrelated businesses are ceasing the opportunity to modify and pivot existing features and services to support MRBs. While direct supporting contact with a Tier I businesses will likely cause a businesses classification to be labeled Tier II, Tier III businesses do not specifically focus on selling to Tier I. Instead Tier III businesses only incidentally sell to MRBs, their primary source of income may come from other revenue sources. Tier…

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