With the new Mississippi Medical Cannabis Act law creating a new form of industry, there are some who may be interested in participating in the cultivation, disposal, processing, research, testing, etc. of medical marijuana. The bill outlined annual licensing fees that vary based on the type of facility and size for anyone who would like to start their own business handling medical marijuana:
• Micro-cultivators (growers with cannabis canopies under 2,000 square feet): annual licensing fees range from $2,000-3,500.
• Cultivators: annual licensing fees range from $15,000 for Tier 1 cultivators (up to 2,000 square feet) to $150,000 for Tier 6 cultivators (10,000 square feet or more)
• Micro-processors (less than 3,000 pounds of biomass): from $3,500-5,000
• Processors (over 3,000 pounds): $20,000
• Dispensaries: $25,000
• Transportation companies: $7,500
• Disposal companies: $7,500
• Testing facilities: $15,000
• Research facilities: $15,000
A one-time application fee would also be charged along with the annual fees for each category.
Cultivation and processing facilities can be located in agriculture and industrial zones and commercial zones with a variance, but they cannot be within 1,000 feet of a school, church, or daycare unless a waiver has been granted.
In order to support the program, there will be taxes that are set. All cultivation facilities will have to pay a 5% excise tax on the sales price or fair market price. The Mississippi Department of Revenue will set the fair market price by November 1, 2022, and will then recalculate it on January 1 and July 1 each year after that. All retail purchases will also be subject to sales tax.
Watch for more information on the new Mississippi Medical Cannabis in upcoming issues of the Tribune.
