Opening a Commercial Operation in Utah
Utah voted to legalize medical marijuana on November 2018, but for everyone else, there are still strict possession laws. Possession of greater than one ounce can result to a year in jail and a $2500 fine. They also have a tax that charges $3.50/gram of marijuana. If arrested with weed and no proof of marijuana tax payment, the fine doubles, plus there is an additional criminal charges.
Licensing Requirements:
- A $1,250 non-refundable application fee is required with application
- Cannabis Processing License
- Tier 1 Processor License
- Tier 2 Processor License
Financial Requirements:
- A $10,000 non-refundable application fee is required with application submission.
- $100,000 licensing fee. Applicants must obtain a performance bond of at least $250,000 with a surety authorized to transact surety business in the state.
- The Department may issue additional licenses if the Department determines it is necessary in order to provide an adequate supply, quality, or variety of medical cannabis to medical cannabis card holders in Utah, as long as the total number of cultivation licenses in the state does not exceed 15.
How much Money in the Market?
Utah medical marijuana sales are expected to reach $25 to $35 million by 2022, according to Marijuana Business Daily projections with an initial patient pool of 11,000 in 2020.
As of January 2020, here is what Utah has approved so far:
Patient Medical Cards Approved: 3,000
Commercial Grow Licenses: 8
Medical Cannabis Dispensary Licenses: 14
Need help with your Commercial Grow? Contact us Directly!
CommercialGrower@OpticLEDGrowLights.com 253-881-1355
Click here to see our 5 Steps to starting a Commercial Grow Facility.
Links that will help you get started today:
Utah:
https://medicalcannabis.utah.gov/
Permits:
http://dispensarypermits.com/
Canna Advisors:
http://thinkcanna.com/
Green Rush Consulting:
http://greenrushconsulting.com/open-a-dispensary/