While seller financing is not for everyoneand sellers need to make sure they have well drafted legal documents protecting their interestsit can be a good strategy to get a higher sales price. I am unable to follow a procedure as specified. If youre already operating a license just call us. Michigan restaurants and bars will now be allowed to sell to-go alcoholic beverages, thanks to a new package of bills signed by Gov. The Cannabis Regulatory Agency will establish Michigan as the national model for a regulatory program that stimulates business growth while preserving safe consumer access to cannabis. Billboards and Weedmaps can be good tools, but there are others at your disposal as well. Our number is in the lower right corner works even on desktop. Basic Dispensary training is 2.5-hour class covering what you need to know to work the retail side of the industry: CBD Stores or Cannabis Dispensaries. Once results are returned, click "Home Delivery" in order to bring all "Home Delivery-approved" Provisioning Centers to the top of the list. While this can be important, it doesnt really have as much relevance as some may think as the numbers really determine the value on the cannabis real estate market. The web Browser you are currently using is unsupported, and some features of this site may not work as intended. This represents the best value on the buy side as we can buy based off lower medical numbers, knowing we will have a big boost once the municipality establishes recreational green zoning. If you are looking to sell your dispensary, give the experts atMichigan Cannabis Propertiesa call to set up a free consultation. Adult-use retail sales: Purchases are subject to a 16% cannabis excise tax in addition to a 5.6% statewide retail sales tax, bringing the total to 21.6%. This is also known as 'Step 1' of the state licensing process in Michigan. o Michigan.gov/IndustrialHemp (main page) If you are in a city and doing great numbers but know many neighboring cities that you draw customers from are on the verge of granting new licenses or passing an MMFLA or MRTMA ordinance, then you may want to think about selling before that happens. Medical Marijuana Dispensary License. The second step includes a review of the proposed retail establishment, including a physical inspection, as well as payment of the licensure fee once approved. With a population of roughly 10,000,000, Michigan is the nation's 4th-largest cannabis market.Some estimates suggest that by 2022, the state's regulated cannabis market could be worth some $1.4 billion. Many localities have stated an intention to grant approval later as the market develops. If you are intending to sell an already processed or finished industrial hemp product, you are required to obtain a processor-handler license. 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. If you or someone you know is interested in knowing more about medical marijuana in Massachusetts and how it can benefit your overall health, call Inhale MD today at (617) 477-8886. Orders must be received through a secure website that authenticates access by a registered qualifying patient. Of course, itll depend on what type of cannabis license you want to get for your operation. Sale of between 5 and 45 kilograms, meanwhile, comes with a maximum penalty of 7 years in prison and a fine of $500,000. Providing you are 21 or over, you are able to possess and use weed in Alaska. Can convicted felons apply for a license? Since the adult use marijuana industry in Michigan is fairly new, requirements are still constantly changing. Am I required to submit an Annual Financial Statement (AFS) report if my license has been closed or not renewed? Where the applicant will identify the specific facility for which they are applying (grower, processor, provisioning center, safety compliance facility, or secure transporter) in the Facility License Application (FLA), and provide information and supporting documentation specific to the license sought. Detroit finally announced the rules for allowing licensed adult-use marijuana sales with a conscious effort toward giving social equity applicants a fair opportunity as well. The state tax requirements in medical marijuana in Michigan is 6% sales and use tax. Medical marijuana sales: Purchases are. Licensed adult-use marijuana retailers may sell cannabis to adults aged 21 and older. If I report the financial dealings of the prior ownership of my licensed entity in my Annual Financial Statement (AFS) report, am I responsible for the state of the financial records or the financial dealings of the prior ownership? Oklahoma Dispensary Laws/Washington Dispensary Laws/Colorado Dispensary Laws/California Dispensary Laws/Maine Dispensary Laws/Missouri Dispensary Laws/Michigan Dispensary Laws/Illinois Dispensary Laws/Nevada Dispensary Laws/Montana Dispensary Laws/Alaska Dispensary Laws / New Jersey Dispensary Laws. Gretchen Whitmer on Wednesday. Recreational marijuana in Michigan has been legal since 2018, when voters in the state narrowly approved a ballot initiative creating the Michigan Regulation and Taxation of Marihuana Act. Prior to that, the state had very strict marijuana laws for non-medical users. Ive been approached by radio stations that have recently begun to open up to advertising cannabis business and brands, with a few odd restrictions (such as not mentioning the word THC), but there are other avenues for marketing other than billboards and Weedmaps. What is the application fee to file an amendment? Cannabis licenses in every state of the United States tend to be a tricky situation, Michigan is not the exception. Who is required to submit an application? There are new developments in the security sector that are offering dispensaries piece-of-mind. However, barriers, such as prohibition, make seed cultivation tricky. Do companies need liability insurance to obtain a Processor-Handler License? This can really skyrocket expenses for a burgeoning business. Adults may possess up to 15 grams of cannabis concentrate at any given time. The U.S. federal government still prohibits the use of . 2. Every person, from an investor to an employee, will be background checked throughout the process. Class A is a Grower license for 500 marijuana plants, Class B is a Grower license for 1,000 marijuana plants, and. Who is a "managerial employee" of the applicant? I own multiple licensees that have common ownership. Michigans Marijuana Tracking Act requires the establishment of a statewide monitoring system that can integrate with third-party inventory control and tracking systems such as Covas Cannabis Dispensary POS Software in order to allow: Additionally, Michigan's Adult-Use Marijuana Emergency Rules state that licensees must use a third-party inventory control and tracking system that is capable of interfacing with the statewide monitoring system to track: Michigan has chosen Metrc as its official statewide marijuana monitoring system. Once put on the open market, the offers came in around $2.5M to $3M, despite the fact the company had spent a couple hundred grand extra on inventory and other items. Detroit may not see its first recreational dispensaryuntil 2022 or possibly later. Since your processor-handler license is now expired, processing, handling, brokering, or marketing industrial hemp without this license is a violation of the state's Industrial Hemp Research and Development Act. They rake in $31,000-$42,000 depending on the dispensary. How can I get information from the Agency? Some of the more sophisticated business players will also look at EBIDTA margin, but not all do. With savings accounts yielding less than 1%, getting a higher purchase price along with a 6% interest rate of return can be very attractive. A practical-minded business lawyer with expertise in the cannabis industry, he represents cultivators, dispensaries, CBD extractors, oil extractors, food processors, media and marketing companies, consultancies, and other businesses in the legal cannabis market. Make it as easy, seamless, and convenient for them as possible. Can you provide some information on event licensing? Yes. 300 Great Oaks Blvd, Suite 300-022 Albany NY, 12203, How To Open a Marijuana Dispensary in Michigan. Usually, an established dispensary will start to develop relationships with different producers and growers. As of Dec. 1, 2019, Michiganders are able to purchase cannabis for recreational adult-use ("recreational cannabis"). Not a bad deal if you ask me. It starts to add up real quick for just the business aspect let alone your grow inputs, https://www.michigan.gov/mra/0,9306,7-386-83746---,00.html. Can a federally recognized Indian tribe apply for a state license? I purchased a licensed entity. Does this qualify me for an adult-use marijuana establishment license? If required elements do come in separately, they will still be processed, but in the order received. This applies to both physical and online sales activities. Do I need a license for a private event where social use will take place? 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. It is illegal to use cannabis in a public place, such as on the street or at the park. You're taking their product and benefitting from it - again, a question for an attorney as this is out of CRA's regulatory authority. 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. All rights reserved. I have an active patient registry identification card and I recently moved. The industry is getting a lot of attention for its impressive growth in such a short amount of time. There are also additional fees that are allowed by the MMFLA(Medical Marijuana Facilities Act). The lesson here, for dispensary owners and cannabis real estate brokers alike, is that if you plan to open your dispensary in order to make it more attractive to sell, dont do it half-assed. Once completed the Packet and collected all required documentation, submit your pre-qualification packet either in person, by mail, or through LARAs online application portal. It is our goal to be one of the best legal resources for cannabis real estate industry. It takes you from hiring a lawyer who specializes in Michigan's cannabis laws & regulations to help . Create an account to follow your favorite communities and start taking part in conversations. The responsibilities for hemp processors are primarily found in Section 7 and 11 of this law. Applying for an Adult-Use License? Thus, when deciding to sell your dispensary, you want find out how to be showing as high sales number as possible. Medical marijuana provisioning centers in Michigan may only sell cannabis to patients holding an active medical marijuana patient identification card. Can I rescind a physician certification that I already completed for a patient? Marijuana retailers in Michigan may sell cannabis and cannabis products including flower, concentrates, edibles, infused products, seeds, and clones. 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? There are differences between state rules and regulations, especially related to the specifics of how much a Caregiver can grow, posess and how many Patients and Dispensaries they can distribute to, but the basic steps are as follows: Apply for your Patient Status with Doctor recommendation. We do not have a written agreement or contract. Discounts of up to 75% are also available to applicants belonging to a disproportionately impacted community on licensing fees and properties owned by the city land bank. Why is testing of marijuana products required? To be a Rec grower here you have to have your location approved, cameras and security system. What is the cost of applying for an adult-use marijuana establishment license? Do we need a processor-handler licenser? I am a Certified Public Accountant (CPA) conducting the Agreed-Upon Procedures report. Several Michigan dispensaries have been sued for sending out text messages under the TCPA. No, youll need to pay with separate checks as these application types are not processed by the same agency. The adult-use market launched on Dec. 1, 2019. Michigan does not require hemp products be registered. I want to sell industrial hemp. A seed cleaner is involved in part of the process of converting raw hemp to a marketable form and would therefore need the processor-handler license. Learn your next steps in your cannabis business. Since the consultants we work with tend to do a lot of business with the bigger Michigan cannabis brands, oftentimes we find that they can help negotiate lower wholesale prices for these products, which can improve both revenueandmargin. But timing your sale can also be important with respect to yourspecific municipality and location. How to Get a Dispensary License in Michigan In Michigan, the Medical Marihuana Facilities Licensing Division regulates licensing for medical marijuana businesses. And they will need to be renewed annually, which includes a fee of a similar amount. Does the MMFLA provide any protection for CPAs and financial institutions whose clients are licensed by or pursuing licensure with the state under the MMFLA? 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. Where can I find more information on each type of license? Does a dispensary owner wait a year or more with the hope they can see a large sales boost once the city goes adult-use? I utilize another company to handle a type of service necessary for the operation of my licensed entity. What this means is that you must know the market to decide when the best time is to sell. The first is an application fee of $6,000, which must be submitted before the application can be processed. The appeal of Ferndale dispensaries is likely to drop with Madison Heights coming online and with Royal Oak and Berkeley not far behind, assuming litigation doesnt tie up those cities for too long. If youre already operating a license just call us. If you want to learn how to open a Marijuana Provision Center in Michigan or apply for any adult use marijuana grower, processor, or transporter licenses, here is all the information you need. Click "Search." 4. Medical facilities will be authorized for recreational sales as of January 1, 2020. a question thats on every cannabis entrepreneurs mind. My business "cleans" hemp seed for a registered industrial hemp grower. Medical marijuana can be delivered to the home of any registered qualifying patient, even if the patient's jurisdiction does not allow dispensaries. If you live in Minnesota, your chance is coming soon. Do I still need to report this on P8 Schedule of Outsourced Services? It costs $10.000 in-licenses fees, plus the application fees that are an additional $6.000. I have an active caregiver registry identification card and I recently was divorced/married and changed my name. Will my license expire and how often will I have to renew my license? Go to Cannabis Regulatory Agency Licensing & Statistical Reports, Go to Statewide Marijuana Monitoring System Information - Metrc, Go to Apply, amend, renew an adult-use establishment license, Go to Apply, amend, renew a medical marihuana facility license, Go to Apply, amend, renew a patient or caregiver medical marijuana card, Go to Apply to be a hemp processor-handler, Go to Apply for or renew a Social Equity application, Go to File a complaint against a licensee, Go to Notify the agency of a material change, Go to File a petition for the medical marijuana review panel, Go to Active marijuana businesses in my area, Go to Active marijuana businesses in the state, Go to Approved grants and the grant approval process, Go to Licensees that have had disciplinary actions taken against them, Go to Tips for licensees, technical or advisory bulletins, Go to The number of previously approved applications or licenses, Michigan Medical Marijuana Program (Patients/Caregivers), Verify a Medical Marijuana Facility License, Verify an Adult-Use Establishment License, Metrc - Statewide Marijuana Monitoring System. An overview of the medical and recreational marijuana laws in Michigan. July 2, 2020 Jordyn Pair. What are the capitalization requirements for each type of license? What will the costs be for a state operating license? Is there a separate fee for the caregiver? 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? You just organize the transaction differently. Below is an updated listing for non-residents purchasing out-of-state medical cannabis and recreational marijuana. We can help you receive top dollar for your Michigan dispensary property. Possessing or using any amount of marijuana meant jail time and growing small amounts of marijuana was a felony with up to four years in jail. Youll be required to provide the same information you submitted during the pre-qualification phase, with information regarding the municipality in which youll operate. What should I do? It is always best if renewal paperwork is received by the department as one complete packet. Email: MDARD-IndustrialHemp@Michigan.gov Only sell product to individuals aged 21 years or older after the product has been tested and bears the required retail label, Enter all transactions, current inventory, and other required information into the statewide monitoring system through a third-party inventory control and tracking system such as Cova POS, Verify customers are 21 years of age or older by means of a government-issued photo ID, Verify that the sale will not exceed the transaction limits, Verification of age and validity of medical marijuana patient card, Retention of a record of the date, time, quantity, and price of each sale or transfer of cannabis, Determination of whether a particular sale or transfer will exceed the permissible limit, All cannabis plants, products, packages, purchase totals, waste, transfers, conversions, sales, and returns, Lot and batch information throughout the entire chain of custody, Complete batch recall that clearly identifies all required criteria pertaining to the specific batch subject to the recall, ID scanner for age and patient card verification, Integrated inventory and sales tracking and reporting, Built-in product equivalency conversions and purchase limit enforcement. 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. There are two fees associated with the provisioning center licensing process. Remember, your processor-handler license will not be issued until all required elements are submitted and processed. There are two fees associated with the adult-use marijuana retail license in Michigan. Will I need a physical location for my business, or can I use my personal address until I find a location? At Michigan Cannabis Properties, we work with data driven consultants that can come in and drive additional revenue to your dispensary in anticipation of eventually selling your dispensary.