Marijuana Business Factbook 2019

103 © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. State-By-State: Legal Overview, Market Data and Outlook | Chapter 2 MJBIZDAILY.COM BUSINESS TAXES & FEES Application Fees $6,000 nonrefundable application fee for the main applicant, which is the entity or the individual seeking to hold the state license. License Fees TBD―Administrative Rules yet to be drafted, exact timeline unknown State tax requirements 10% excise tax plus 6% sales tax State tax collections in 2018 N/A―sales not yet started SUPPLY CHAIN DYNAMICS Retail store structure For-profit allowed Number of businesses allowed No statewide caps on businesses but municipalities can enact caps on the local level Number of businesses operating in early 2020 Grower: 0 (A), 0 (B), 13 (C) Processor: 5 Provisioning center: 26 MARKET OVERVIEW Estimated number of in-state customers 1,300,000-1,600,000 Estimated recreational marijuana sales via retail stores in 2019 $7 million Overall 2019 marijuana market $295 million-$365 million