Cannabis cultivation permits
The procedure for getting cannabis cultivation permits differs from state to state. But in each of the legal states, only a limited number of cannabis related businesses can be set up. When it comes to growing cannabis, about 25 permits will be issued. But the thing that applicants must keep in mind is that one grower cannot obtain more than one permit. However, a grower can obtain a permit for a dispensary business. The limit is set to 5 growers only. This means that only 5 growers will be allowed to have permits for both a cultivation facility and a dispensary business.
When making application for cannabis cultivation permits, applicants must pay a fee of $10,000 for the application and $200,000 in addition to the application. If the application is processed successfully, the annual renewal fee for the license will be $10,000. However, if the application is rejected, applicants will get back $200,000. They will not get the $10,000 because the application fee is non-refundable.
Applicants must also provide proof of funds. They must have $2 million out of which $500,000 must be in their bank accounts. Those who are looking to start a dispensary business must note that depending on the state they live in, only 50 permits will be granted.
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