Marijuana Business Factbook 2019

Marijuana Business Factbook 2019 Chapter 2 | State-By-State: Legal Overview, Market Data and Outlook 116 © 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. BUSINESS TAXES & FEES Application Fees All licenses: $5,000 License Fees Dispensary: $30,000 (new); $5,000 (renewal) Cultivation: $3,000 (new); $1,000 (renewal) Infused Products Manufacturing: $3,000 (new); $1,000 (renewal) Testing Lab: $5,000 (new); $3,000 (renewal) Capital requirements Applicants for any license type must provide proof of at least $250,000 in liquid assets State tax requirements 15% excise tax on first wholesale sale plus state sales tax (varies between counties and municipalities) State tax collections in 2018 $27,363,347 (FY18) SUPPLY CHAIN DYNAMICS Dispensary structure For-profit allowed Number of businesses allowed Dispensaries : 66 Cultivators: No cap Number of businesses operating in early 2020 Dispensaries: 66 Cultivators: 134 Processors: 96 Testing Labs: 11 Weighted average price per pound of marijuana $1,649 MARKET OVERVIEW Number of registered patients 16,848 (down from 17,623 in mid-2019) Estimated 2019 MMJ sales via dispensaries $75 million-$90 million (down from $95,294,502 in 2018) NEVADA Medical continued