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.
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.
What does an integrated cannabis microbusiness license in New Mexico allow you to do?
An integrated cannabis microbusiness license allows a person or entity 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
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 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.
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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