Marijuana Business Factbook 2019

Marijuana Business Factbook 2019 Chapter 2 | State-By-State: Legal Overview, Market Data and Outlook 94 © 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 $31,500 License Fees $50,000 (new and renewal) Working capital requirement $500,000 State tax requirements MMJ not taxed in Massachusetts due to an exemption for prescription medications in the state State tax collections in 2018 N/A SUPPLY CHAIN DYNAMICS Dispensary structure For-profit allowed (as of October 2017) Number of dispensaries allowed No limits (an initial cap of 35 expired) Number of dispensaries operating in early 2020 54 Weighted average price per pound of marijuana $2,854 MARKET OVERVIEW Number of registered patients 60,110 (up from 59,175 in early 2019) Estimated 2019 MMJ sales via dispensaries $160 million-$195 million (down from $165 million-$200 million in 2018) MASSACHUSETTS Medical continued