Marijuana Business Factbook 2019

Marijuana Business Factbook 2019 Chapter 2 | State-By-State: Legal Overview, Market Data and Outlook 158 © 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 Dispensary (medical cannabis pharmacy): to be determined by Department of Health Cultivator: $10,000 Processor/Testing Lab: to be determined by Department of Food and Agriculture License Fees Dispensary (medical cannabis pharmacy): to be determined by Department of Health Cultivator: $100,000 Processor/Testing Lab: to be determined by Department of Food and Agriculture Capital requirements Dispensary (medical cannabis pharmacy): $125,000 Cultivator: $250,000 Processor/Testing Lab: $50,000 State tax requirements Medical cannabis will be exempt from sales tax State tax collections in 2018 N/A―program not yet started SUPPLY CHAIN DYNAMICS Dispensary structure For-profit allowed Number of businesses allowed Dispensaries: 14 Cultivators: 10 Number of businesses operating in early 2020 The program has not yet started, but regulators have issued eight of 10 cultivation licenses. The Department of Health also issued licenses to 10 companies to dispense MMJ at 14 sites across the state. MARKET OVERVIEW Number of registered patients The Utah Department of Health will begin accepting patient applications no later than Mar. 1, 2020 Estimated 2019 MMJ sales via dispensaries N/A―sales will not begin until 2020. UTAH Medical continued