Sure, growing marijuana may not have been your childhood dream.
However, as more states legalize marijuana, more jobs are opening up in the cannabis industry. This might be the perfect time for a switch!
If you want to share the cannabis knowledge you’ve cultivated with the world (and get paid to do it), then this is the blog for you. Keep reading to learn about getting a job in the cannabis industry.
Steps to Entering the Cannabis Industry: Research
Research is key when it comes to entering the cannabis industry. You should treat this research with the same excitement you get researching the best marijuana plant to smoke!
There are a few different details you should research before making any big job decisions:
Saying that you want to work in the cannabis industry isn’t enough- you should make a list of the types of work you enjoy the most and then look at different job listings to see if a job in the marijuana industry fits.
Competition for Jobs
Even with strong efforts to legalize marijuana, it is still not legal to sell in many states. This means that the cannabis job market may be denser than other markets, resulting in more competition for jobs.
The cannabis industry is still new to many states, so salaries may fluctuate based on the supply and demand of sellers. You should research the current salary for the job you want and make sure it works with your budget.
Once you’ve done this preliminary research on the cannabis job market, you can decide if working in the marijuana industry is a good lifestyle fit. If it is, keep reading!
Have a Clean Record
No matter the excitement you may have towards working in the cannabis industry, you will have difficulty finding a position if you have a criminal record.
Applicants will be submitted to background checks. Felony convictions are much more likely to stop the hiring process than misdemeanors, but this varies between each place. While there are exceptions, most states will not allow you to work in a licensed cannabis facility with a felony.
As more states start to legalize marijuana, criminal records related to cannabis are likely to decrease. Possession charges will usually not affect your chances of working at a cannabis facility.
Location is Everything
As we’ve mentioned, many states have yet to legalize marijuana. Recreational marijuana is legal in only 19 of the 50 US states, so location is everything if you want to work in the cannabis industry.
In addition to your location, you also need to think about your timeline. For example, New York recently legalized marijuana in March 2021. This means that there are no or very few dispensaries currently operating and, in turn, fewer jobs.
Learn the Tax Code
Once you’ve checked each of the above points off your list, it’s time to dive into the details.
One of those details includes learning the 280e tax code. The 280e tax code was created in 1982 to stop taxpayer deductible expenses concerning the sales of cocaine, amphetamines, and marijuana. This means that the IRS doesn’t differentiate between legally sourced and illegally sourced income when it comes to selling marijuana as a controlled substance.
Essentially this means that cannabis business owners cannot “write-off” any expenses, except for the items listed in an exclusion. These include expenses directly related to the production of the plants (seeds, electricity, labor.)
It is important to know the laws related to cannabis before spending any money on your budding business.
You Have Room to Grow
If you’re interested in a job in the cannabis industry, don’t quit your day job! There are a few steps you should take before making the jump.
Want to learn more about the things you do every day? Check out our website! We’ve got something you’ll like.