As of September 19, 2017, the state of Ohio through its Ohio Medical Marijuana Control Program requestedapplications to Operate Medical Marijuana Dispensaries. The plan involves issuing 60 initial provisional licenses. If you are interested in learning more about Ohio’s medical marijuana dispensary application process, please contact Ben MacDowell at Anthony Law at 614-340-0011.
When the final application and application information is released, it will be available on www.medicalmarijuana.ohio.gov/dispensaries. Ohio adopted final rules on September 8, 2017 and it is not known exactly when the final application will be released, but it is expected sometime in late October to early December 2017.
Once the application is final and released, a request for application period begins. From that date, there is a 45-day application preparation period and on the 46th day, a ten-day application submission period begins. Applications cannot be submitted before or after the application submission period.
If you are thinking about submitting an application for a Dispensary Operation License, here are some initial considerations:
The fees are not yet established, but initially proposed fees are a $5,000.00 application fee, an $80,000.00 initial license fee, and an $80,000.00 biennial renewal fee.
IRS Tax Code Section 280E, how will this impact your business if a license is approved?
What business are you already conducting in the state of Ohio that lends credibility to your ability to operate a dispensary?
How will you structure a dispensary business?
Who is on your team?
The application requires financial disclosures from each owner, officer, and board member.
The application requires criminal background checks from each owner, officer and board member.
The application requires narratives from each owner, officer and board member regarding previous business experience.
Where is the proposed location?
How will you create a business plan with all of the necessary requirements?
How will you create financial projections?
Are you going to establish an advisory board? Who is appropriate to fill those roles?
Ohio is initiating its medical marijuana program with heavy regulation and control. This is evident upon review of the application and operation process in Ohio’s Administrative Code Rules. If you are interested in learning more about Ohio’s medical marijuana dispensary application process, please contact Ben MacDowell at Anthony Law at 614-340-0011.