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growing and selling weed in colorado

To get started in the cannabis industry, a business is going to need a substantial amount of capital. To apply for the Regulated Marijuana Business License, for example, a business will already need to possess the property where the business will be located, which could be a costly endeavor. In addition, it will also need to pay several fees to state and local governments, among them are:

Again, the state has 45 to 90 days to respond to an application and, if approved, the application is forwarded to the local governments listed therein.

Even if counties and municipalities decide to opt-in, they are still given discretion on how to implement marijuana policies. For example, while the state allows marijuana stores to be open until midnight, Denver requires theirs to close by 10 pm. Similarly, Colorado allowed recreational marijuana delivery services to apply for licenses starting January 2, 2021; but Denver has restricted access to these licenses to Social Equity Applicants until 2024.

Dispensaries are divided into two types, a retail or recreational dispensary, where customers at least assuming they at least 21 years old, and having a valid form of government ID like a driver’s license or a passport, can purchase marijuana and a medical dispensary, where customers require medical marijuana card to make purchases. While medical cards can technically be acquired by individuals over 18 but below 21, it is important to note that businesses selling both medical and recreational marijuana at a single location cannot sell to anyone younger than 21 at that location.

How to Open a Recreational Cannabis Dispensary

The fee for a medical license is $2,500. The fee for a recreational license is $6,500.

A consideration unique to licensed marijuana businesses in Colorado is that the Colorado Marijuana Enforcement Division (“MED”) must be kept up to date on any changes made to the trade name or any DBA (doing business as) a business may undertake.

These are just the initial license fees. Each license needs to be renewed annually.

How to Start a Cannabis Extraction Business

Before submitting any applications to the MED, a prospective cannabis business should have already:

Sales in the recreational segment of the marijuana market have grown every year since inception. Cumulatively, recreational sales have accounted for $10 billion in only seven years. Getting started first requires the same MED Regulated Marijuana Business License Application.

Growing and selling weed in colorado

Most Colorado citizens are well aware of the legalization of marijuana in their state. With the implementation of legalization came general public service information regarding the use of recreational marijuana.

Colorado’s Legalization of Marijuana

You will want someone to answer your questions, prepare your case if needed, and remove the legal burden.

Minors and Colorado Marijuana Cultivation Laws

There is no penalty in Colorado for persons who privately cultivate marijuana within the legal limits. But if one violates those limits, tough laws regarding drug felony penalties may address the consequences.