Marijuana Business Factbook 2019

151 © 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 Dispensaries: $5,000 Growers/Processors: $10,000 License Fees Dispensaries: $30,000 per location (new); $5,000 (renewal) Growers/Processors: $200,000 (new); $10,000 (renewal) Capital requirements Dispensaries: $150,000 Growers/Processors: $2 million State tax requirements Growers/Processors will pay 5% excise tax on gross receipts from sales of MMJ to a dispensary State tax collections in 2018 N/A―sales started in 2018 SUPPLY CHAIN DYNAMICS Dispensary structure For-profit allowed Number of businesses allowed Dispensaries: 150 (maximum of 50 license holders, each allowed to open 3 storefronts) Growers/processors: 25, No more than five grower/ processors may also be issued a dispensary permit Number of licenses granted as of early 2020 Dispensaries: 72 Growers/processors: 13 MARKET OVERVIEW Number of registered patients 238,500 (up from 131,000 in mid-2019) Estimated 2019 MMJ sales via dispensaries $300 million-$350 million (up from $132 million in 2018)