By Thomas Howard. He has over 10 years of experience in corporate and cannabis laws nationwide.
New Mexico’s Cannabis Retailer License
The state of New Mexico legalized adult-use cannabis. With the legalization of cannabis, an array of adult-use cannabis licenses were introduced to the state.
If you want to check out what the bill says about integrated microbusiness licenses, or read about the upcoming producer licenses application window, you can check those links out.
In this opportunity we will dig into what HB002 says about New Mexico’s Cannabis Retailer License.
What is a New Mexico cannabis retailer license?
According to HB002 a cannabis retailer license is a legal document that will allow its holder to sell products to people qualified to buy it. A retailer license is necessary in order to open an adult-use cannabis dispensary in the state of New Mexico.
What does a New Mexico cannabis retailer license allow you to do?
A cannabis retailer license license allows a person or entity to sell its product to the following people:
- Qualified patients
- Primary caregivers
- Reciprocal participants
- Consumers
How to obtain a New Mexico cannabis retailer license?
As of now, the Cannabis Control Division (CCD) has not established licensing regulations, however, as time goes by, the CCD will update its page with specific information about all license types.
What are the fees to obtain a New Mexico Cannabis Retailer License?
To get a cannabis retailer license, every applicant must pay a fee of up to two thousand five hundred dollars ($2,500) per year, and an additional fee of one thousand dollars ($1,000) per year for each licensed location.
Specific licensing requirements
A person or entity interested in applying and obtaining a cannabis retailer license in New Mexico will have to go through an involved process. A person or entity will have to fill out an application for the license.
The specific requirements for this license type have not been published yet. However, all applicants will have to comply with the following requirements:
- Financial Plan
- Business Plan
- Security Plan
- Manufacturing Plan
- Recordkeeping Plan
- Inventory Plan
- Community Benefits Plan
Preparing a business plan is not a straight-forward process. And the cookie cutter templates you can find around the web usually don’t make the cut. Our team has helped many entrepreneurs prepare license-winning business plans for various states, so you should contact us if you need help.
When will someone be able to apply for a license in New Mexico?
The Cannabis Control Division will begin accepting and processing cannabis producers, and cannabis producers microbusiness licenses starting September 1st, 2021. The CCD will start processing all other license types no later than January 1st, 2022.
About the Author
Tom Howard, Cannabis Industry Lawyer and Consultant has practiced commercial law since 2008 when he graduated law school and got his Series 7 & 66 Securities licenses. He pivoted to practicing litigation for financial institutions before helping cannabis teams form, capitalized and get licensed. He has concentrated in cannabis business since Illinois legalized in 2019. He won licenses for clients in Illinois, Connecticut, New Jersey, New Mexico, Massachusetts, Missouri and has gotten into lotteries in Ohio, Maryland and Maine. He became a Certified Ganjier in 2021. He chairs the ISBA’s section council for Cannabis Law in 2023.
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