Marijuana Business Factbook 2019

113 © 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 $500 (annually) License Fees Providers with fewer than 11 patients: $1,000. Providers with 11 to 49 patients: $2,500. Providers with greater than 49 patients: $5,000. Dispensary: $500 per location (not charged if dispensary is in the same location as provider’s registered grow) State tax requirements 2% tax on providers’s gross sales, 4% tax on marijuana and marijuana product sales State tax collections in 2018 $1,340,000 (FY18) SUPPLY CHAIN DYNAMICS Dispensary structure Both for-profit and nonprofit exist Number of businesses allowed Unlimited Number of licenses granted as of early 2020 Dispensaries: 372 Manufacturers: 210 Testing Labs: 4 MARKET OVERVIEW Number of registered patients 38,873 (up from 34,413 in mid-2019) Estimated 2019 MMJ sales via dispensaries $65 million-$80 million (up from $50 million-$65 million in 2018)