My read is that they are using the same rules for a dispensory as they do for a liquer store. As far as the business end, there will be yearly state license fees, most likely an insurance requirement, state tax certificate, local business license, very stringent record keeping as you will probably be audited at least yearly by the state tax commission, monthly sales tax returns if applicable, federal taxes(income, business, etc), yearly inventory tax, and a host of other things. You would do well to find a really good accountant... this not gonna be cheap, but well worth it in the long run. It would be a really really good idea to incorporate the business for a couple of reasons...first and most importantly to protect yourself and your property, second you will pay the feds a hell of a lot less as a "c" corp than you will as a sole propriator. My accountant saved me around $8,000 a year in federal taxes alone, so I don't mind writing him that $675 check for his fees.
As a business owner in the real world for 14 years, I am telling you first hand that if you *ALWAYS* do the right things right, and charge what it takes to not just pay the bills, but also to make a small profit after all the bulls and salaries are paid. 10% of your net is a good target.
Before attempting to start *ANY* business, you need a minimum of $25,000 for start-up costs plus one years salary.
It would also be a good idea to take some business courses to learn the business of running a business.
Mississippi Steve Reviewed by Mississippi Steve on . If Growers were licensed...what then? Thinking about the changes to the present legislation, there is proposed language, towit: "... the new version would also allow for separate licenses for marijuana- growing facilities tied to dispensaries â?? which could sell a portion of what they grow to other dispensaries â?? and for marijuana product-makers." Read more: Few on either side happy with proposed medical-marijuana licensing rules - The Denver Post What do you suppose the license requirements might entail? Zoning? Rating: 5