New Mexico Integrated Cannabis Microbusiness License
New Mexico legalized adult-use recreational cannabis this year. And with its legalization, an array of adult-use cannabis licenses were introduced to the state. The cannabis control division will be regulating cannabis businesses in the state. The cannabis regulation act created the cannabis regulatory advisory committee that became the new control division regulating recreational marijuana in New Mexico, which should become a thriving cannabis industry.
We already covered how to open a dispensary in New Mexico, now it’s time to dig into what the newest bill says about New Mexico’s Integrated Cannabis Microbusiness License.
What is an integrated cannabis microbusiness license in New Mexico?
An integrated cannabis microbusiness license is a legal document that will allow its holder to produce, manufacture, sell and transport adult-use cannabis on a small scale.
Thinking of Starting a Cannabis Business in New Mexico? Here’s What You Need to Know About Microbusiness Licenses
If you’re looking to get involved in the cannabis industry, it’s important to understand the different types of licenses available. In New Mexico, an integrated cannabis microbusiness license is a great option for those looking to get started in the business. Here’s everything you need to know about this type of license.
What does an integrated cannabis microbusiness license in New Mexico allow you to do?
An integrated cannabis microbusiness license allows a person or entity’s licensed premises to conduct one or more of the following:
- production of cannabis at a single licensed premises; provided that the person shall not possess more than two hundred total mature cannabis plants at any one time;
- manufacture of cannabis products at a single licensed premises;
- sales and transportation of only cannabis products produced or manufactured by that person;
- operation of only one retail establishment; and
- couriering of cannabis products to qualified patients, primary caregivers, reciprocal participants or directly to consumers;
How to obtain an integrated cannabis microbusiness license in New Mexico?
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 an integrated cannabis microbusiness license in New Mexico?
To get an integrated cannabis microbusiness license, every applicant must pay a fee of up to two thousand five hundred dollars ($2,500) per year, and an additional fee of five hundred dollars ($500) per year for each licensed location.
Specific licensing requirements integrated cannabis microbusiness license in New Mexico
A person or entity interested in applying and obtaining an integrated cannabis microbusiness 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 an integrated cannabis microbusiness license in New Mexico?
The Cannabis Control Division is accepting and processing cannabis producers, and cannabis producers microbusiness licenses and started on September 1st, 2021. The CCD will started all other license types no later than January 1st, 2022.
The New Mexico cannabis industry is officially up and running, and there are plenty of opportunities for entrepreneurs to get involved. If you’re looking to start a cannabis business in New Mexico, it’s important to understand the different types of licenses available. In this blog post, we’ll give you an overview of the New Mexico Cannabis Microbusiness License, what it allows you to do, and how you can get started.
So what exactly is an integrated cannabis microbusiness license? In New Mexico, an integrated cannabis microbusiness license allows you to conduct one or more of the following activities: production of cannabis at a single licensed location (up to 200 total mature plants), manufacture of cannabis products at a single licensed address, sales, and transportation of only cannabis products produced or manufactured by that person, operation of only one retail establishment, and couriering of cannabis products.
If you’re interested in starting a New Mexico cannabis microbusiness, the first step is to apply to the state’s Regulation and Licensing Department. Once your application is approved, you’ll be able to obtain the licenses and permits necessary to get started.
If you’re looking for an opportunity to get involved in the New Mexico cannabis industry, an integrated cannabis microbusiness license is a great option. For more information on how to get started, be sure to check out our blog post on the topic. Thanks for reading!
Don’t miss out on our Marijuana Legalization Map where you can browse the current status of laws in every state in the United States and see all our posts on each of them.
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