Virginia Cannabis Licenses Timelines & Social Equity
On April 7- HB 2312 and SB 1406 were voted to be approved after Gov. Ralph Northam requested amendments from the legislature.
This bill will replace cannabis prohibition with a system to legalize, tax, and regulate cannabis for adults 21 and older.
But what does the new legislation establish regarding the Virginia marijuana establishment licenses?
0:00 – Start of Show
0:26 – Marijuana Legality Map
0:53 – Virginia Marijuana Cultivation License
1:27 – Virginia Legalization 2021
2:02 – Virginia Cannabis Control Authority
2:37 – Virginia Marijuana License Opportunities
4:09 – Types of Cultivation Licenses in Virginia
4:50 – Virginia Marijuana Retailer License
5:48 – Vertical Integration in Virginia
8:27 – Virginia Marijuana Compliance
9:15 – Virginia Marijuana Taxes
10:30 – Social Equity Virginia
13:51 – Marijuana Legalization in Virginia Limitations
16:28 – Marijuana Legalization in Virginia Timeline
Our website will continue to update with cannabis legalization news. The state of Virginia has legalized cannabis, and various sorts of licenses will be available over the following few years, initially for social equity and subsequently for the general public. The cultivation license permits you to grow an unlimited quantity of marijuana in Virginia. In Virginia, an immature plant is defined as a non-flowering marijuana plant that does not exceed eight inches in height. A license for a marijuana production facility is only four paragraphs long; it does not even fill up a page.
Each license awarded by the board must be associated with a particular place of business; a separate appointment is necessary for each specific business area. Certain limits they mention regarding the kind of records that must be retained at your licensing site will undoubtedly be included in subsequent applications to establish compliance. The internet-based sales platform is a disaster because it is far more convenient to order from your dispensary and then pick it up in person or use the delivery service available in Florida and several other states. There is no vertical integration on this, and multiple licenses issued to a single individual are forbidden. In this section, the term “interest” refers to an equity ownership stake. Marijuana cultivation, marijuana manufacturing marijuana wholesaler retail marijuana store license or marijuana testing facility license so now it’s pretty much spaced apart you have to grow or process. Does that mean you can’t do your pre-rolls?
You cannot necessarily stack your board of directors with complimentary license holders to operate within an ecosystem comprised of your types of licenses, which I believe you should be able to do. Marijuana tax A tax of 21 is levied on the sale of retail marijuana items or even marijuana paraphernalia by a retail marijuana business in the commonwealth. A cultivation privilege tax plus sales tax will increase that tax to above 30%, depending on how expensive it is to manufacture it. For example, if you have a 20 gram and you’re going to have a 30% tax on that twenty-dollar gram, let’s say two four six. Social equity is a pervasive program in Virginia law, and they will give preference to social equity applicants. To qualify as a social equity applicant in Virginia, you must fall into one of these five categories.
The board is responsible for developing the social equity liaison, and within that plan, social equity has been defined as a specific feature. Under sub 13 of this section, the board’s regulations give definitions or guidelines on the legislative formation of certain social equity words. The program incorporates a disproportionately afflicted area’s social equity and then this arrest’s social equity, including family members. An applicant who owns at least 66 per cent of the business through a person or persons who attended a historically black college or university in the state. One of the things that your state’s cannabis law should incorporate is a policy goal of eradicating the illicit market. After July July 11, when it is 420 someplace in Virginia, you will feel a lot more relaxed, so thanks for accompanying us on our assessment of the Virginia cannabis laws.
You may also share this with other people you’d like to work with to obtain your cannabis license. With a 66 per cent ownership requirement, the ownership requirements for the LLC that will be the plant-touching license holder are rather demanding. Before JanuaJanuary 14, no retail marijuana store may sell retail marijuana or retail marijuana products to consumers if a cap on the number of licenses granted under this act is imposed. The commonwealth of Virginia may begin accepting applications for permits under the show on July July 1shall give priority to qualified social justice applicants until 2023.
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