Cannabis Business License in Pennsylvania
Pennsylvania may legalize an adult-use market soon. This new initiative for a legal recreational marijuana market in Pennsylvania allows individuals over the age of 21 to consume marijuana products and would decriminalize a certain amount of marijuana. Additionally, this market has the potential to raise up to $1 billion in tax revenue. According to Marijuana Business Daily, the adult-use marijuana market in Pennsylvania will reach $800 million in sales in the first full year and $1.8 billion by the fourth year. With that, a cannabis business license in Pennsylvania is required for anyone to open and operate a cannabis business.
As one can see, the profit potential for marijuana in Pennsylvania is high. If you want a cannabis business license in Pennsylvania, you have to apply through the state. These application processes are lengthy, but our cannabis application writers in Pennsylvania are experts and eager to help you win a license. Additionally, Quantum 9 has helped clients win licenses in the Pennsylvania market. We won 1st place for Pennsylvania grower/processor licenses within both rounds of applications.
Check out some of the reasons our consulting team at Quantum 9 can help you. Contact us for help with your business plan and read along to see how this new market will function.
Rules for Adult-Use Cannabis in Pennsylvania
As mentioned above, this new initiative allows those over the age of 21 to possess 30 grams of marijuana products. Additionally, licensed medical marijuana patients are able to grow up to 5 plants within their home. Anyone who has been convicted of a non-violent marijuana offense will have their criminal records expunged.
Cannabis Business Licenses in Pennsylvania
Currently, The Department of Health’s Medical Marijuana Program oversees marijuana regulations in Pennsylvania. This bill plans to establish the Pennsylvania Cannabis Regulatory Control Board within a year of legalization. This new department creates rules and regulations for both the medical and recreational market in Pennsylvania. Additionally, this board will issue cannabis business licenses in Pennsylvania. Our cannabis application writers in Pennsylvania complete applications for entrepreneurs are guaranteed to win you a license. Contact us to win a license.
Let’s take a look at how the market for cannabis business licenses will look.
Number of Pennsylvania Cannabis Licenses Available
First, the state plans to issue licenses for 100 cultivation centers and 528 marijuana dispensaries. 480 of these dispensaries are able to sell both medical and recreational marijuana products. Lastly, the other 48 dispensaries can only dispense medical marijuana.
As of now the medical marijuana market in Pennsylvania offers cannabis licenses for manufacturing/processing, cultivation, and retail dispensaries. Different cannabis licenses allow you to perform different tasks. Talk to our cannabis application writers in Pennsylvania about what cannabis business works best for your needs.
Cannabis Tax
Furthermore, it is always important to know where the tax money goes from marijuana revenue. In addition to Pennsylvania’s 6 percent sales tax, the bill creates a 10 percent excise tax on the sale of marijuana. Also, the revenue from taxes, permits, and cannabis business licenses in Pennsylvania will create a Cannabis Regulation Fund, which will infuse capital into the state on matters involving social equity, education, and economic improvement. The tax revenues should reach anywhere from $400 million- to $1 billion annually.
Social Equity
Social equity is an important priority to Pennsylvania. Our cannabis application writers in Pennsylvania work with social equity applicants to ensure equality in the cannabis industry. Contact us if you have any questions about social equity,. Take a look at some of the procedures Pennsylvania is taking to create social equity within cannabis business licenses and the marijuana industry in general:
What you Should Do to Prepare
It is never too early to begin an application for a cannabis business license in Pennsylvania. The current medical marijuana market is booming and we can expect the recreational market to be the same way. Recently, multi-state operators have acquired medical a processor and cultivator for $46 million and a medical dispensary in the range of $20 million. If you want to get a piece of this action, it’s time to start preparing now.
In addition, it is important to know that the application process for a cannabis business license is detailed and our expert consulting team is eager to help business entrepreneurs. Finally, we have the highest success rate in the industry and have won 1st place for Pennsylvania grower/processor licenses. Save time and money and allow us to help you with your cannabis application in Pennsylvania.
