Marijuana Business Factbook 2019

129 © 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 Producer/Dispensary: $10,000 Manufacturer: $1,000 Testing lab: $2,200 License Fees Producer/Dispensary: $40,000 for first 500 plants; $5,000 for each additional increment of 50 plants up to a total of 1,000 plants; $6,000 for each additional increment of 50 plants above 1,000 plants State tax requirements 5.5%-9.25% gross receipts tax State tax collections in 2018 Not available SUPPLY CHAIN DYNAMICS Dispensary structure Not-for-profit Number of businesses allowed Only 35 vertically integrated businesses are licensed to grow and sell MMJ in New Mexico, but there are no limits on how many dispensary storefronts each is allowed to open. Number of dispensaries operating in early 2020 Dispensaries: 98 Cultivators: 35 Weighted average price per pound of marijuana $2,760 MARKET OVERVIEW Number of registered patients 80,257 (up from 74,100 in mid-2019) Estimated 2019 MMJ sales via dispensaries $115 million-$145 million (up from $106 million in 2018)