Marijuana Business Factbook 2019

49 © 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 Dispensary: $9,000 to $22,000 depending on number of patients Cultivator: $2,500 Infused Product Manufacturer: $2,500 Testing Lab: $2,500 License Renewal Dispensary: $2,300 to $7,300 Cultivator: $1,800 Infused Product Manufacturer: $1,800 Testing Lab: $1,800 Change of location $500 State tax requirements 2.9% state sales tax State tax collections in 2018 $9,479,980 SUPPLY CHAIN DYNAMICS Dispensary structure For-profit allowed Number of businesses allowed No statewide limits, though some towns and cities have enacted moratoriums or bans Number of licenses granted as of early 2020 Dispensaries: 438 Cultivators: 465 Infused Product Manufacturers: 220 Testing Labs: 12 Weighted average price per pound of marijuana $976 MARKET OVERVIEW Estimated number of patients 81,610 (down from 86,443 in early 2019) Estimated 2019 MMJ sales via dispensaries $340 million (versus $332 million in 2018)