Cannabis Retail Store License to Cost $25,000 Annually, Event Organizer Permits $1,000, Board Establishes in Latest Meeting
The Cannabis Advisory Board sets new fees for various aspects of the cannabis industry, including cultivation, manufacturing, and consumption
2024-08-07 17:30:48 - VI News Staff
On Tuesday, the Cannabis Advisory Board convened to discuss and vote on the second fee schedule in the ongoing rollout of legal cannabis across the territory. The meeting addressed a variety of fees for different aspects of the cannabis industry, from cultivation to dispensaries, and highlighted some areas of confusion that may require legislative amendments for clarification.
The board voted to set a scaling cost mechanism for cannabis cultivation operations, ranging from $1,000 for a micro-cultivation permit to $10,000 for large-scale operations. A license to manufacture cannabis-based goods is set at $5,000. Dispensary licenses carry a $25,000 annual fee. First-time applicants will be charged $10,000 upfront, and if they are successful, they will need to pay the remaining $15,000.