Dont be one of them. The people of Michigan will likely have the opportunity to vote on recreational legalization in November of 2016, but it's up to them to pass the initiative. Must my Annual Financial Statement (AFS) report include the financial dealings of the previous ownership that occurred during the reporting period? To renew your expired processor-handler license, you are required to submit your completed renewal application, along with the license renewal fee, and all required documentation. One thing that the pandemic did was give us all a lot of time in the kitchen. But Michigan regulators felt it was necessary to phase out caregiver contributions, to spur investment in licensed grow facilities. Be aware that public consumption is still punishable by a fine of up to $100, so if you light up, do it on your own private property. Scott Levin | slevin@mlive.com. How do I update my address on my registry card? If you live in Minnesota, your chance is coming soon. Launch our Search utility. Michigan Marijuana Dispensary Map & Directory | Kush Tourism Under state law, cannabis retail establishments cannot be located in areas zoned exclusively for residential use or within 1,000 feet of any school for grades K-12. Watch out for real estate costs, which can really become the largest aspect of the provisioning center. The MRA has more information online regarding specific communities. Licenses are given out for marijuana cultivators, processors, testing facilities, transporters, and, of course, dispensaries. Cannabis Law 101: What You Need to Know to Stay Legal - Grewal Law PLLC Can a caregiver work in a licensed facility and retain their caregiver status under MMMA? In an industry that is constantly changing, adapting quickly to take advantage of new opportunities and facing potential challenges that come with the territory will determine if youll have a successful business or not. Applying for a New York Cannabis License The Office of Cannabis Management Cannabis Control Board (CCB) of New York has applications for cannabis adult use, Are you an ambitious entrepreneur looking to get involved in the cannabis industry? This license is for individuals who are qualified to acquire, possess, distribute and dispense marijuana. Some of the more sophisticated business players will also look at EBIDTA margin, but not all do. May a medical grower, processor, or provisioning center facility hold an ownership interest in an adult-use secure transporter, safety compliance facility, or a microbusiness establishment? I have an active patient registry identification card. What is a CPA Attestation and what is required to be included? All of our seeds are lab tested for genetic quality, hand picked just for you, and shipped directly to your door in . Check the State of Michigan Career Portal for a list of current openings in Michigan government. How to Apply for a New York Cannabis License, How to Apply for A Cannabis Retailer License in Minnesota, Illinois Cannabis DUI Lawyer What You Need to Know, Washington Social Equity Cannabis License Application, Illinois Cannabis Dispensary Application 2023 | Social Equity License Lottery, How to raise funds for your cannabis company. The average price of an 8th in Lansing. Recreational cannabis in Michigan was legalized in November of 2018. How do I know if my Annual Financial Statement (AFS) Report has been approved? Do we need a processor-handler licenser? Once approved for a license, the initial licensure fee for an adult-use marijuana retailer is $25,000. The state of Missouri allows qualifying medical marijuana patients the right to grow up to six flowering plants, six non-flowering plants, and six clones under 14 inches in height. For both the medical marijuana program and recreational marijuana program, the licenses available in Michigan are: Michigans Department of Licensing and Regulatory Affairs (LARA) is the agency in charge of issuing licenses to cannabis operators. May a medical secure transporter or safety compliance facility licensee hold an ownership interest in an adult-use grower A, grower B, grower C, processor, microbusiness, or retail establishment? The web Browser you are currently using is unsupported, and some features of this site may not work as intended. If your application passes the prequalification step, then you will enter the second phase. We do not have a written agreement or contract. What this means is that these companies, and many larger private companies, value dispensaries strictly on revenue or sometimes EBIDTA multiples. Michigan's MRA began accepting adult-use cannabis facility license applications on November 1, 2019 only from persons currently holding a medical marijuana operating license. I am a vertically integrated licensee. Think of selling to a dispensary as you would with any product to a store. No misdemeanors involving controlled substances within five years, No local ordinance violations within five years, Any past issue with law enforcement or legal violations, not including traffic violations. Can I rescind a physician certification that I already completed for a patient? There are two fees associated with the provisioning center licensing process. For example, it can range from $128/sq ft to $393/sq ft. On the other hand, if you are limited to leasing the property, monthly costs for a marijuana store might run between $3,500 and $10,000 or even higher. Can a person seeking certification for medical marijuana do so in a provisioning center? The process was set to be complete by September 2020. Also, during the process, you will need to submit a site plan that covers everything from the building layout to security to trash management, and you may need to lobby for approval. Our clientele is comprised of seasoned entrepreneurs and industry veterans who are searching for cannabis real estate opportunities. Avoid trying to wholesale cannabis products without the proper licensing. Feb 1, 2023. Operating dispensaries tend to garner a higher sales price in the Michigan cannabis real estate industry, but Ive seen at least one situation where a plan to open up actually hurt the overall sales price instead of boosting it. For recreational cannabis is 10% excise tax plus 6% sales tax. Our LARA Veteran Liaisons may be able to help you navigate through the process and programs within our Department. But timing your sale can also be important with respect to yourspecific municipality and location. I am unable to follow a procedure as specified. If you do, you may have been much better off just selling before opening, as you may have gotten a higher sale price with less investment and less hassle. Adults aged 21 and older may purchase no more than 2.5 ounces of cannabis or equivalent product in a single transaction, with no more than 15 grams in the form of cannabis concentrate. However, finding the best bang for your buck when it comes to marketing your business does require amixture of the right knowledge and legal experience. Processor: The license includes selling to other licensed processors and dispensaries, processing marijuana, and selling it to licensed medical marijuana users. What may potentially prevent an applicant from getting approved for a state operating license? If youre already operating a company just call us. You're taking their product and benefitting from it - again, a question for an attorney as this is out of CRA's regulatory authority. Will my license expire and how often will I have to renew my license? Check the State of Michigan Career Portal for a list of current openings in Michigan government. Is this license required for retailers who do not have a physical location in Michigan? The industry is getting a lot of attention for its impressive growth in such a short amount of time. || attorney & consultant marketing - collateral base firm, Developed By WorldWin Coder Pvt Ltd & Stumari. Not only that, but you can draft the purchase and sale documents such that you are not only OK if the buyer stops making payments, but you actually may hope they do as you can take back your property, keep the money theyve already paid, and sell it again! Marijuana dispensaries in Michigan are permitted to sell both medicinal and recreational marijuana to anyone over the age of 21 with a valid I.D. But with the industry growing as fast as the medical and recreational cannabis industry in this legalized midwest state, the results of getting a license may be worth it. So basically unless your buddy is licensed by the state and has approval from the city he is growing in you're going to be shit out of a luck. How should the Annual Financial Statement report be compiled for a licensee who has multiple licenses? This packet must include a passport-type photo, a copy of your government-issued ID, and all other supporting documentation, It encompasses a full background investigation of the applicant and all supplemental applicants. Feminized Seeds Growing Cannabis Seeds in Michigan For the most part growing cannabis seeds is easy. Medical cannabis sales in Michigan are subject to the standard state sales tax of six percent, plus an additional three percent excise tax. If youre already operating a license just call us. Cannabis Rules for Out-of-State Buyers: Medical and Recreational I want to grow and possess my own plants. Medical marijuana may only be purchased at state-licensed medical dispensaries. Michigan Bars Closed for Indoor Service, Restaurants Now Allowed to Can a microbusiness obtain plants from a caregiver? Thus, when deciding to sell your dispensary, you want find out how to be showing as high sales number as possible. The state will not set a limit on the number of licenses issued; however, local municipalities may choose to restrict or limit the type and number of facilities licensed in their jurisdictions. Michigan is a great market, but it's not cheap to operate there. || attorney & consultant marketing - collateral base firm, Developed By WorldWin Coder Pvt Ltd & Stumari. What if I do not submit my Annual Financial Statement (AFS) report by the deadline? Michigan Medical Marijuana Program (Patients/Caregivers), Verify a Medical Marijuana Facility License, Verify an Adult-Use Establishment License, Metrc - Statewide Marijuana Monitoring System. Applying for an Adult-Use License? Of course, not everything is as clear cut as the above example given the wide variance of municipal restrictions on the cannabis real estate industry. Strict attention to compliance issues and regulations is required to apply for a permit to grow hemp in Michigan. Can you provide some information on event licensing? For dispensary buyers, seller financing can save a lot of up-front money, which can instead be used to build out the inventory and stock shelves. I am a Certified Public Accountant (CPA) conducting the Agreed-Upon Procedures report. Do I have to be a resident of the state of Michigan to obtain a patient registry identification card? Michigan Weed Dispensaries - Find the Best Cannabis in MI - PotGuide Put another way, thats about 35% more money in the sellers pocket compared to a straight cash out offer. Those prices are then getting passed on to customers. Moreover, municipalities that had previously opted not to participate in legal marijuana will now have an opportunity to allow recreational cannabis. So, what drives the valuation of these dispensaries? They rake in $31,000-$42,000 depending on the dispensary. What is Selling to a Dispensary? Learn your next steps in your cannabis business. Website links: Medical Marijuana Laws by State - FindLaw Michigan marijuana dispensaries to lose caregiver weed as rules change Beginning March 1, 2021, the MRA will end the requirement to hold a medical Provisioning Center license first, and open applications to everyone, with discounts for social equity qualifying applicants. The second step is license qualification, which includes providing more information specific to the type of license sought in this case, a provisioning center license. In addition to medical marijuana dispensaries, beginning January 1, 2020, recreational dispensaries will also be allowed to apply for licenses to sell adult-use cannabis to the public. If you were to look just at data for comparable sales of dispensaries, it may be hard to make heads or tails out of the sales prices. Is the lab conducting the testing have any accreditations? The not-so-good thing about cannabis license regulations in Michigan is that local municipalities can choose to ban or limit the number of businesses. All cannabis businesses help pay the $500,000 annual fee for substance abuse disorder programs ( MMFLA Section 333.27603) Licensing fees cost between $10,000 and $66,000. In November 2018, Michigan dispensary laws changed when voters approved the Regulation and Taxation of Marijuana Act, making the Great Lake State the 10th in the U.S. to legalize recreational cannabis. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer. The second fee is an annual regulatory assessment, which must be paid prior to the license being issued. My business is developing an in-field THC testing kit, and we will collect hemp samples to test the efficacy of the kit. However, barriers, such as prohibition, make seed cultivation tricky. There is another category, covered in section 15.4 of the Michigan Regulation and Taxation of Marihuana Act (MRTMA). What do we need to do to sell our ingredients to product manufacturers that sell to Michigan dispensaries? You are required to complete both Step 1 (Pre-Qualification) and Step 2 (Full Licensure) before you can open the doors and begin operations. What are the recordkeeping requirements? Recreational cannabis is a 10% excise tax plus a 6% sales tax. Culinary Cannabis. Michigan does not require hemp products be registered. Without disclosing all of the tricks of the trade, the data reflects that one key item is to bring in strong brands that have been proven to drive business sales, such as MKX or Platinum Vapes, as well as specialty products that excite consumers. The web Browser you are currently using is unsupported, and some features of this site may not work as intended. When filing an amendment should the entity's operating agreement/bylaws be signed? Growing Marijuana in Michigan (2021 update) Can I use one check to pay for my hemp Grower Registration and hemp Processor-Handler license? Marijuana Legal States: A State-By-State Map Guide | Marijuana SEO Weve won licenses in competitive limited markets, and open market states. This is why it is so important to know how to comply with all regulations governing its use. Check CRA's website periodically as PA 547 of 2014, as amended, may be updated, and there may be additional requirements such as labeling for hemp products. I have an active caregiver registry identification card(s) and I recently moved. Does the address on my application have to match the address on my Michigan driver license or personal identification card? For a medical marijuana dispensary you should apply for a Provisioning Center License that authorizes the sale of marijuana to a registered qualifying patient or registered primary caregiver. It is our goal to be one of the best legal resources for cannabis real estate industry. Can a federally recognized Indian tribe apply for a state license? In certain circumstances, they may even do it free of charge to you since we can sometimes negotiate arrangements where we pay them directly through MCP as they help drive a higher sales price, which in turn means my company gets a bigger commission. My Processor-Handler license expired November 30, 2021, and I have not been able to submit a renewal application yet.