New Mexico Integrated Cannabis Microbusiness License
A New Mexico Cannabis Microbusiness License application is not something to do by yourself. The Cannabis Control Division (CCD) will be regulating cannabis businesses in the state. The cannabis regulation act created the cannabis regulatory advisory committee that became the new control division regulating recreational marijuana in New Mexico, which should become a thriving cannabis industry. You must first apply for an New Mexico Cannabis Microbusiness License before you can begin business operations. They require a social equity plan and an energy and water use plan.
We already covered how to open a dispensary in New Mexico, now it’s time to dig into what the newest bill says about New Mexico’s Integrated Cannabis Microbusiness License.
What is an cannabis microbusiness license in New Mexico?
An integrated cannabis microbusiness license is a legal document that will allow its holder to produce, manufacture, sell and transport adult-use cannabis on a small scale.
Thinking of Starting a Cannabis Business in New Mexico? Here’s What You Need to Know About Microbusiness Licenses
If you’re looking to get involved in the cannabis industry, it’s important to understand the different types of licenses available. In New Mexico, an integrated cannabis microbusiness license is a great option for those looking to get started in the business. Here’s everything you need to know about this type of license.
What does an cannabis microbusiness license in New Mexico allow you to do?
An integrated cannabis microbusiness license allows a person or entity’s licensed premises to conduct one or more of the following:
- production of cannabis at a single licensed premises; provided that the person shall not possess more than two hundred total mature cannabis plants at any one time;
- manufacture of cannabis products at a single licensed premises;
- sales and transportation of only cannabis products produced or manufactured by that person;
- operation of only one retail establishment; and
- couriering of cannabis products to qualified patients, primary caregivers, reciprocal participants or directly to consumers;
How to obtain an integrated cannabis microbusiness license in New Mexico?
As of now, the Cannabis Control Division (CCD) has not established licensing regulations, however, as time goes by, the CCD will update its page with specific information about all license types.
What are the fees to obtain an integrated cannabis microbusiness license in New Mexico?
To get an integrated cannabis microbusiness license, every applicant must pay a fee of up to two thousand five hundred dollars ($2,500) per year, and an additional fee of five hundred dollars ($500) per year for each licensed location.
Specific licensing requirements integrated cannabis microbusiness license in New Mexico
A person or entity interested in applying and obtaining an integrated cannabis microbusiness license in New Mexico will have to go through an involved process. A person or entity will have to fill out an application for the license.
The specific requirements for this license type have not been published yet. However, all applicants will have to comply with the following requirements:
- Financial Plan
- Business Plan
- Security Plan
- Manufacturing Plan
- Recordkeeping Plan
- Inventory Plan
- Community Benefits Plan
Preparing a business plan is not a straightforward process. And the cookie cutter templates you can find around the web usually don’t make the cut. Our team has helped many entrepreneurs prepare license-winning business plans for various states, so you should contact us if you need help.
Does New Mexico License Marijuana Microbusinesses?
The Cannabis Control Division (CCD) is accepting and processing cannabis producers, and cannabis producers and integrated microbusiness licenses and started on September 1st, 2021. The CCD will started all other license types no later than January 1st, 2022. Overview of the licensing process for an integrated microbusiness license in New Mexico involves several steps. Firstly, interested individuals must submit their application along with all required documents to the state’s Cannabis Control Division (CCD). The CCD will then review and approve or deny the application based on specific requirements such as background checks, financial viability, and adherence to local zoning regulations.
An integrated microbusiness license in New Mexico combines cultivation, manufacturing and retail sales for small-scale marijuana businesses, offering a unique opportunity for entrepreneurs without significant upfront investment.
There are two types of licenses available for marijuana businesses in NM – producer licenses and retailer licenses. An integrated microbusiness license combines both types into one streamlined permit allowing small-scale cultivation, manufacturing and sale to customers. This offers a unique opportunity for entrepreneurs looking to enter the cannabis market without having significant capital investment upfront. Both licenses allow for growing up to 200 plants under the license.
To apply for an integrated microbusiness license in New Mexico applicants need to ensure they meet all eligibility criteria before submitting their applications online with necessary accompanying documentation including business plan, site layout diagrams etc., successful submission may follow a pre-licensing inspection by authorities prior issuance of permits.
Proof of a Commercial Water Right
To obtain a marijuana microbusiness license in New Mexico, applicants must provide proof that they have obtained a legal right to use water for the production of cannabis. The following documents are required to prove this:
- A document from the water provider confirming the applicant’s right to use water for cannabis production and complying with their rules.
- A document issued by the Office of the New Mexico State Engineer proving an existing valid water right.
- Alternatively, a document from state engineers showing that they have a permit or right to obtain one for outdoor or indoor cultivation irrigation purposes at business premises.
Applicants should contact the New Mexico Cannabis Control Division to determine how much volume of water their establishment requires. In addition, applicants must provide sustainable strategies for using energy and water appropriately in their plan.
Plan for Sustainable Use of Energy and Water
To obtain a microbusiness license in New Mexico, applicants must provide a plan for sustainable use of energy and water. This document should outline strategies the company will employ to ensure responsible usage of these resources, including drip irrigation and water collection methods, energy efficiency measures, the use of natural lights, generation and use of renewable energy, as well as an estimate for appropriate usage based on their cultivation plan.
By implementing such practices from the outset, cannabis establishments can reduce their impact on finite resources while also demonstrating good stewardship to regulatory authorities.
In addition to promoting environmental responsibility and sustainability among licensed cannabis businesses in New Mexico, fees may apply for licensing applications depending on the type of business establishment chosen by applicants.
Prospective business owners are advised to consult with state agencies like the Department of Regulation & Licensing or relevant authority bodies before planning out a detailed budget or applying for annual renewal fees that may affect profits down the line.
How much does it cost to obtain a New Mexico Integrated Microbusiness License?
The cost of obtaining a New Mexico Integrated Microbusiness License is $10,000 for the initial application fee. Additionally, the annual renewal fee for the license is $1,000. These fees are required to be paid to the New Mexico Regulation & Licensing Department. It is also important to note that the fees for obtaining a license may change over time, so it is advisable to check the current fees on the department’s website.
Additionally, there are the costs related to operation. Equipment could be hundreds of thousands of dollars and so could all the labor to build a facility in compliance with the Americans with Disabilities Act, local fire codes, and security requirements under the Cannabis Control Act. Get your finances in order and make a great budget to tackle these challenges.
Conclusion
In conclusion, starting a marijuana microbusiness in New Mexico requires careful consideration and planning. In addition to obtaining the necessary licenses, applicants must provide proof of their legal right to use water for cannabis production and a plan for the sustainable use of energy and water and comply with testing requirements. By implementing sustainable strategies from the outset, cannabis establishments can reduce their impact on finite resources while demonstrating good stewardship to regulatory authorities.
Prospective business owners should consult with state agencies and relevant authority bodies before planning out a detailed budget or applying for annual renewal fees that may affect profits down the line. With the right mindset and approach, cannabis microbusinesses can thrive and contribute to the growth of New Mexico’s economy.
