Marijuana Business Factbook 2019

133 © 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: $210,000 ($200,000 of which is refundable if the entity is not awarded a license) License Fees Producer/Dispensary: $210,000 ($200,000 of which is refundable if the entity is not awarded a license.) Licenses are valid for two years. State tax requirements 7% excise tax for producers/dispensaries on the gross receipts from sales to patients. MMJ exempt from sales tax. State tax collections in 2018 $3,367,000 SUPPLY CHAIN DYNAMICS Dispensary structure For-profit allowed (with limitations―state approval of all pricing is required) Number of dispensaries allowed 40―the state allows 10 licensed companies, each of which may operate up to four dispensaries in addition to their cultivation site Number of dispensaries operating in early 2020 Dispensaries: 37 MARKET OVERVIEW Number of registered patients 112,279 (up from 104,095 in mid-2019) Estimated 2019 MMJ sales via dispensaries $155 million-$190 million (up from $100 million-$120 million in 2018)