Posted by Chip Gentry |
On November 6, 2018, nearly two-thirds of eligible Missourians voted in favor of Amendment 2, legalizing marijuana for those suffering from certain medical conditions within the state. More specifically, Amendment 2 “permits state licensed physicians to recommend marijuana for medical purposes to patients with serious illnesses and medical conditions,” while keeping in place “current civil and criminal laws governing the use of marijuana for non-medical purposes.”
The newly passed initiative imposes a modest 4% tax on the retail sale of marijuana which will in turn provide additional funding for health and care services for military veterans through the Missouri Veterans Commission, as well as added revenue for local governments. In total, Amendment 2 is projected to generate annual taxes and fees of approximately $18 million for veterans programs and $6 million for local governments, with state operating costs measured at only $7 million.
Now that Amendment 2 has passed, where do we go from here?
On January 5, 2019, the Department of Health and Senior Services will begin accepting pre-filed applications and fees for patients requesting medical marijuana and those interested in applying for any and all of the four types of medical marijuana licenses in Missouri: patient, cultivation, infused-products manufacturer, and dispensary. More importantly, by August 3, 2019, the Department of Health and Senior Services is required under the text of Amendment 2 to award a minimum of 192 dispensary licenses (24 licenses in each of Missouri’s 8 congressional districts), 61 cultivation licenses (1 for every 100,000 Missourians), and 82 infused product manufacturer licenses (1 for every 70,000 Missourians).
With patient fees of $25 per year, cultivation fees of $10,000 initially, and $25,000 per year, and infused-product fees and dispensary fees of $6,000 initially, and $10,000 per year, educated and informed legal representation will be pivotal for Missourians interested in breaking into the medical marijuana business.
The capital of the great State of Missouri, Jefferson City, is sure to be a hotbed of medical marijuana legislation, implementation, and interpretation as marijuana based issues progress within the state. If you are interested in getting involved in the business of medical marijuana, give us a call to schedule a consultation. Our legal services may include walking you through the business process, mandatory filings, and other legal and business related duties and obligations to make sure that you and your medical marijuana business are set up with the tools to help those suffering from debilitating medical conditions, assist Missouri’s ailing veterans, create jobs, and turn a profit. In Missouri, the voters have spoken. Medical marijuana is here, and it is here to stay. Give us a call to find out how you can get involved in the industry.