Marijuana Business Factbook 2019

55 © 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: $1,000 Producer: $25,000 License Fees Dispensary: $5,000 (new and renewal―dispensary licenses are valid for two years) Producer: $75,000 (new and renewal―producer licenses are valid for five years) Change of location Dispensary: $1,000 to apply, additional $1,500 if approved Producer: $3,500 to apply, additional $1,500 if approved Working capital/escrow/ bond requirements Producer only―$2 million bond/escrow for facility construction, may be reduced by $500,000 by successful completion of various milestones until requirement is eliminated completely State tax requirements MMJ is exempt from sales tax as medicine State tax collections in 2018 N/A SUPPLY CHAIN DYNAMICS Dispensary structure For-profit allowed Number of businesses allowed Dispensaries: 18 Producers/Cultivators: 10 Number of businesses operating in early 2020 Dispensaries: 14 Producers/Cultivators: 4 Weighted average price per pound of marijuana $2,956