Cannabis Consultant in Wisconsin: Recreational Marijuana
As more and more states legalize marijuana markets, Wisconsin has plans to legalize both a recreational and medical marijuana market within the near future. This means that there will be plenty of opportunities for entrepreneurs who want a cannabis business. As always, it is never too early to start your cannabis business plan. Our marijuana consultants at Quantum 9 are expert application writers and can help you start a cannabis business in Wisconsin. Read along as our cannabis consultants in Wisconsin explain the future of marijuana in Wisconsin.
Recreational Cannabis in Wisconsin
Rules and Regulations for Personal Cannabis Use
To begin with, the governor of Wisconsin recently attached a reform to a proposal that allows adults who are 21 or older to purchase, possess, and cultivate cannabis for personal use. Additionally, individuals who are 21 or older can buy and have up to 2 ounces of marijuana on them. Also, those who are not residents of Wisconsin can have up to a quarter ounce on them.
Taxes For Recreational Marijuana in Wisconsin
With the governor’s proposal, he states that Wisconsin will have a 15 percent wholesale excise tax on cannabis. In addition to this, there will be a 10 percent retail excise tax on all marijuana sales. Medical cannabis sales are not subject to tax.
As to where the tax money would go, Wisconsin plans for 60 percent of the tax funds to go to a community reinvestment fund. The rest of the tax revenue deposits into the state’s general fund. As you can see, the governor is open to marijuana legalization as it can help bring in money for the state and citizens in Wisconsin.
Lastly, you can find more details about the budget plan in Wisconsin here, or contact our Wisconsin cannabis consultants for more information on this proposal.
Now, let’s talk about the community reinvestment fund. This fund is made to promote social equity within Wisconsin. The ultimate goal is to promote diversity and to advance equity and inclusion within cannabis businesses. Additionally, money made from marijuana shall go to community health worker grants, equity action plan grants, and support for businesses in underserved communities.
Cannabis Business Licenses In Wisconsin
A handful of cannabis business licenses will be available in Wisconsin. These include:
- Production Licenses
- Processor Licenses
- Testing Licenses
- Distribution Licenses
- Retail Licenses
With that, different licenses require different information for cannabis applications. Talk to our cannabis consultants in Wisconsin about the license you have an interest in.
Additionally, cannabis business applications in Wisconsin are to be scored on several criteria. For example, a social equity plan is a very important part of an application for a license. The governor also puts importance on environmental plans, creating jobs in cannabis, and safety.
Our cannabis consultants in Wisconsin are experts in writing plans for the criteria mentioned above. Additionally, we hold a 90.12 % success rate in cannabis license applications. Lastly, we are eager to help entrepreneurs in Wisconsin, contact us for a head start on your application.
Wisconsin Cannabis Consultant: CEO of Quantum 9 Speaks about Cannabis Businesses in Wisconsin
Our CEO, Michael Mayes, recently spoke with WISN about the future cannabis industry in Wisconsin. Additionally, Mayes has helped many entrepreneurs win cannabis business licenses in Illinois and is eager to help entrepreneurs in Wisconsin start cannabis businesses.
Cannabis is a big business but the investment is worth it. For example, stores in Chicago make anywhere from $1 million to $3 million in revenue. Also, tourist spots in Wisconsin can potentially make the same amount to dispensaries in Chicago.
Finally, make sure to get a head start and contact our cannabis consultants at Quantum 9 so you can open the cannabis business of your dreams.