August 19, 2014

Hundreds Apply for Nevada MMJ Business Licenses

Entrepreneurs submitted nearly 400 applications for medical marijuana business licenses in Nevada by Monday’s deadline, highlighting the intense level of interest in the state’s MMJ program.

The Nevada health department received 370 applications for dispensaries, cultivation centers, testing labs and production facilities.

The deadline for applications was 5 p.m. Monday, but mailed submissions that are postmarked by that time will also be considered.

The state expects the final tally to approach 500 applications.

Those hoping to get a business license in Nevada’s new medical marijuana industry have to pony up $5,000 just to apply, meaning the state could generate more than $2 million from the application process.

MJBizExpo 300 Speaker CohenB Hundreds Apply for Nevada MMJ Business Licenses Winning applicants must pay thousands more for an actual licenses. Dispensaries, for example, will have to shell out $30,000 for a provisional certificate.

The number of licenses the state ultimately decides to hand out has yet to be announced, but there could be up to 66 dispensaries. Applicants need to receive both state and local approval to set up shop, and many cities and counties are setting up their own rules on the industry.


4 Comments:

  1. This appears to be a growing and dynamic industry. Are there related businesses that will provide support to this industry for things such as financing, business planning, marketing, etc.? It appears that the major support for this industry is through persons who are approved for medical MMJ. Is financing for these people available through traditional financing mechanisms? Also What about federal financing for the MMJ enterprises that seem to be springing up almost daily.

  2. @ Benjamin ………the answer is no on every account.

  3. Hi, I’m being offered an investment opportunity for a production facility in clark county. How can I confirm if the business is legit?

  4. Call the I.R.S.

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