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Medical Marijuana Inc Provides Tax Solution for Cities to Collect on Marijuana Sales

^{Published on 2010-07-08 08:50:53 - Market Wire}
 

FOOTHILL RANCH, CA--(Marketwire - July 8, 2010) - Medical Marijuana Inc (PINKSHEETS: [ MJNA ]) has the solution cities are looking for to collect taxes on Marijuana sales. President Don Steinberg states, "As we move closer to legalization in California the focus from the cities' perspective is 'How To Tax.' We have a system in place that allows cities to collect taxes that same day, therefore providing daily tax revenues to that city. MJNA, through its division 'The Hemp Network,' now has hundreds of agents who will be spreading out across America to advise cities of this tax solution."

SOLUTIONS

Medical Marijuana Inc has developed a suite of solutions to deliver an efficient and secure infrastructure for the Medical Marijuana Industry which provides the tools to industry operators to effectively manage their business with the confidence that they are in full compliance.

MEDICAL MARIJUANA INC'S TURNKEY COLLECTIVE SOLUTION

Medical Marijuana Inc's Turnkey Collective Solution ensures that collectives operate within the guidelines of all laws and regulations regarding the tracking of the cannabis from grow cycle to final distribution. By employing Medical Marijuana Inc.'s closed loop, patent pending, tracking system, it can be shown to authorities and collectives alike that the source of their supply was an active member of the collective.

TAX COLLECTION

MJNA's Stored Value Platform System provides verifiable solutions to manage the difficult task of revenue and taxation collection. The customers of the dispensary are issued a plastic debit card or medical revenue card. The ease of access to certifiably secure transactions lessens the risk of loss at each level of the transaction.

ABOUT MEDICAL MARIJUANA INC

Medical Marijuana Inc recognizes the vast and unequaled opportunities that exist in the rapidly expanding hemp and medical marijuana industries. The scientific recognition of cannabis has brought legalized marijuana use to the forefront of mainstream discussion, thus opening the door for safe and lucrative investment opportunities.

FORWARD-LOOKING DISCLAIMER

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana Inc to be materially different from the statements made herein.