Upcoming Cannabis Opportunities in Vermont

Upcoming Cannabis Opportunities in Vermont

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JANUARY 18TH, 2021

UPCOMING CANNABIS OPPORTUNITIES IN VERMONT

Vermont Cannabis History

Vermont legalized medical marijuana in 2004, through Senate Bill 76, which allowed qualifying patients to legally access and utilize medical marijuana as a form of treatment for their ailment. As of July 2018, through legislative bill H. 511, adults 21 years and older are now able to legally possess and use marijuana in Vermont. Though recreational use for marijuana was legalized, Vermont did not have a regulated cannabis market in place and therefore the only form of accessing marijuana without being a patient in the state was through home cultivation.

However, on October 7, 2020, Governor Philip Scott allowed Bill S.54 to become a law creating the Cannabis Control Board for the purpose of regulating cannabis production and sale in Vermont. Regulation of the medical cannabis program will be moved to the board in March 2022 making retail sales available to the public in 2022. In other words, legal sales are two years away.

Vermont’s Cannabis Business Licenses

Vermont first authorized medical marijuana businesses in 2011 and intends to provide unique goods and services to registered patients and caregivers for therapeutic purposes. Vermont allows marijuana businesses to be vertically integrated under one license – this means a licensee may grow, manufacture/process and sell their own products. As a medical marijuana business, you can sell tax-free cannabis, deliver cannabis, produce and sell cannabis with higher THC content, sell larger quantities of cannabis, and due to COVID patients are now allowed to buy cannabis without leaving their vehicles. The Department of Public Safety has currently issued 5 medical retail licenses.

Applications for a sixth dispensary will be announced when the number of registered patients reaches 7,000, as of 2019 the patient count is at around 5,000.

Upcoming Vermont Cannabis Business Opportunities

Vermont will allow for the sale of recreational marijuana by early 2022 to all persons over the age of 21. Recreational Marijuana Establishments will not be allowed to produce or sell cannabis flower with more than 30% THC or any flavored cannabis oil or flower that is not naturally occurring in the cannabis.

Get Started with Your Cannabis Business in Vermont

We encourage those interested in starting a marijuana business, to focus on establishing your Business and Financial plans. If you are interested in applying for a marijuana business license in Vermont, email us to discuss how we may be able to assist you.

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