Colorado and Washington made history this week by becoming the first states to legalize marijuana for recreational use. While many people were planning their next vacation my thoughts were elsewhere.

What does this mean for the weed man and his once illegal business.  After a quick search I learned that both Colorado and Washington will model the selling of marijuana after the same system used to sell alcohol.  This means that the weed man will need to get a business license, a permit to sell marijuana and have possible tax benefits on the state level. This also probable means that there will be a shortage of white tees standing on the corner, because I’m sure that would lead to zoning issues.

Now keep in mind that although marijuana is legal on the state level it is still illegal on the federal level.  So this means that the weed man will not be able to enjoy the typical deductions that other business owners do.  See here for more information.