Legal Marijuana in South Dakota
South Dakota becomes the first state to legalize both recreational and medical marijuana at the same time. Marijuana is finally legal within South Dakota and everyone is ready to purchase marijuana within this state. With that, we can expect many opportunities for new marijuana businesses for this state. Now, our marijuana business consultants at Quantum 9 are here to explain how you can win a marijuana license in South Dakota.
A Huge Win for South Dakota
South Dakotans approve the two ballot initiatives to legalize marijuana for recreational and medical use. This is a historical moment for marijuana legalization in the United States. So, make sure to keep an eye on this market as business opportunities are huge.
Recreational Marijuana Market
With the recreational measure, the people of South Dakota who are 21 and older can possess and distribute up to an ounce of marijuana. Also, they can cultivate up to three cannabis plants.
Marijuana legalization in South Dakota becomes law on July 1, 2021. With that, The Department of Revenue will be in charge of licensing marijuana businesses in South Dakota and establish the regulations.
Additionally, a 15 percent excise tax will exist for recreational marijuana. These proceeds go to South Dakota public schools and to the state’s general fund.
Medical Marijuana Market
With the medical measure, qualifying patients can possess and purchase up to three ounces of marijuana from a dispensary in South Dakota. Also, patients can grow more than three plants at a time with a doctor’s approval. Those with qualifying health conditions can obtain a medical marijuana card.
All in all, people are ready to purchase legal marijuana in South Dakota.
So, When Can South Dakotans Purchase Legal Marijuana?
The South Dakota Revenue Department is working with the state Department of Health to make rules for licensing. These initiatives take effect on July 1, 2021. Also, the revenue department has to create a system for licensing commercial businesses by April 2022. Government officials aim to create a safe marijuana environment for the state. Once these rules and regulations are finally implemented, individuals will be able to apply for marijuana business licenses.
Make sure to utilize marijuana consulting in South Dakota to guarantee a spot within this market. You can contact our successful marijuana consultants here for more information about this market.
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