Setting up a Pot Shop: Everything you Need to Know about Cannabis Business Law
With the legalization of recreational marijuana still fresh in the terms of our great state of Nevada, Joey Gilbert Law is committed to making sure everyone knows the laws involving this psychotropic plant. In previous blogs, we have talked about the laws regarding driving under the influence of marijuana, laws relating to the transportation of marijuana and more. In this post, we will attempt to outline the laws detailing cannabis business and cultivation.
Knowing which type of license to apply for is the first step towards starting your new business in the budding field of cannabis. The five types of business licenses are currently available in Nevada:.
1. Cultivation Facility
This license is intended for the growing, processing and packaging of marijuana for sale to retail stores. It also allows for marijuana to be tested by a testing facility, to be sold to a product manufacturing facility and to be sold to other cultivation facilities. This does not allow you to sell to consumers.
This license allows for the transportation of marijuana from one establishment to another, for example, from a cultivation facility to a retail store. Most likely, if you have a cultivation facility license, a product manufacturing license, or a testing facility license, you will also need this license.
3. Product Manufacturing Facility
This license is intended for use by companies making edibles, tinctures, oils and more. It allows for the purchase of marijuana, the manufacturing, processing and packaging of marijuana and marijuana products and to sell marijuana and marijuana products to other product manufacturing facilities and retail stores. This does not allow you to sell to consumers
4. Testing Facility
This license is solely for the testing of marijuana and marijuana products. Common tests include testing for potency and for containments.
5. Retail Store
The license is intended for businesses looking to sell to consumers. It allows for the purchase of marijuana from cultivation facilities, marijuana and marijuana products from product manufacturing facilities, and marijuana from other retail stores.
For the majority of people looking to get into the marijuana industry, the consumer store front is probably the most familiar, but as you can see, it is only the tip of the iceberg in terms of cannabis related business. For each license, there is an application fee, as well as a fee for the license itself. The application fee, per license, is $5,000 and the fee for the license itself varies between $10,000 and $30,000, depending on the specific type. These are annual fees and therefore, not something the consider lightly. Of course, if you are serious about starting a business in the realm of cannabis, Joey Gilbert Law is happy to assist with any and all of the licenses listed above.
At this time, only existing medical dispensaries, or facilities, are able to apply for a license, however this is subject to change. If you have any questions regarding the application for a marijuana license, Joey Gilbert and his team have been at the forefront of this expansive category of new business and are incredibly knowledgeable about the ins and outs of this exciting field.
Ready to apply? Give Joey Gilbert a call today! (775) 574-4774