Missouri Medical Marijuana Market
Missouri Medical Marijuana
Citizens of Missouri voted on three different ballot initiatives to legalize medical marijuana in November 2018. Amendment 2 passed, creating a medical marijuana program which specifies 10 conditions and allows doctors to recommend medical marijuana for any other chronic, debilitating, or other medical condition. The program is estimated to cost $7 million annually and is projected to generate $18 million for the state and $6 million for local governments. The imposed 4% sales tax that is collected from medical cannabis sales will go to the Missouri Veterans’ Health and Care Fund. The purchase limit for patients is four ounces in a thirty-day period; smoking and home growing are allowed.
Licensing applications must be made available by June 4, 2019. Vertical integration and co-location are allowed, but no entity under common control, ownership, or management may receive more than 3 cultivator, 3 processor, or 5 dispensary licenses. Entrepreneurs and investors who are interested in starting a cannabis business or expanding into the Missouri cannabis industry should start their pre-license positioning now.
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Opportunity in Missouri
Taking the time to put together a financial model and business plan now will help position you to raise capital, secure properties, win local approval, and recruit potential team members.
Conditions in Missouri
The Department of Health is expected to award a minimum of 61 cultivation, 87 processor, and 192 dispensary licenses, and is not required to set limits on the number of licenses.
Stay up-to-date on medical marijuana legalization in Missouri
Cannabis legalization is changing rapidly, and Canna Advisors can help develop your cannabis business from the ground up. For the latest news and events in the industry, visit our Blog and News and Events pages, or have a look at some of the following top articles on cannabis legalization in Missouri.
"Constitutional Amendment 2 - Medical Marijuana" - Missouri Department of Health & Senior Services
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