A Medical Cannabis Market Emerges: Mississippi Prepares for Business License Applications This Summer

A Medical Cannabis Market Emerges: Mississippi Prepares for Business License Applications This Summer
Cannabtimes

<![CDATA[After Mississippi Gov. Tate Reeves signed a bill to legalize medical cannabis in the state in February, agencies like the Department of Health and the Department of Revenue began writing regulations for the marketplace that will materialize later this year. Not every rule is set in stone just yet, but already prospective business owners have a sense of what’s needed to get in on the action. License applications may be submitted to the DOH in early June (for cultivation, processing, testing, research, disposal and transportation operations) and to the DOR in early July (for dispensary operations). Those dates are coming soon: But industry observers caution against haste. There will be time aplenty to submit paperwork. The important thing is what’s contained within that paperwork. Clare Millette, partner at Cosmich Simmons & Brown PLLC, says that it’s vital to think through the full business plan—long-term. “[Applicants] need to know there’s so much information, and there are so many different ways that you can participate in this industry,” she says. “You need to have a clear vision for where you see yourself entering this industry.” Mississippi is the 37th state to legalize a commercial medical cannabis market without low-THC restrictions, and this timing confers some regulatory advantages (even as the perceived delay has disadvantaged the state’s patients in need). Where other states have walked relatively blindly into the regulation of a new market like medical cannabis, Mississippi agency representatives have had a chance to learn from past successes and mistakes elsewhere in the U.S. For instance, the state will offer two tiers of “micro” cannabis cultivation licenses (2,000 square feet of canopy or less), and the state will not cap the number of business licenses it will issue.See below for the full legislative overview of cannabis business license types and fees in Mississippi.To convey the depth…

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