ErnestHemingway
Member
I was hoping someone with knowledge of Dispensaries in other states could help me with a couple of questions I had. I've been combing through the Ohio HB523 as I prepare to submit my application for licenscing to open a dispensary, but some things aren't that clear. I'm assuming that, although different, it will have many similarities to other states.
The main question I have is: will it be profitable? I have to pay an 8,000 application fee, then an 80,000 license fee every two years. I started trying to find information online in comparison to other states, and that seemed high. Is it?
The good news is that the state will only be issuing 40-60 licenses in the first year, meaning if I were lucky enough to be selected, I would have many more customers than what would be typical for a dispensary. An article from the Columbus Dispatch suggested that there would be 4,700 patients per Dispensary in at least the first year.
Which brings me to to more questions. How much marijuana can I run through my store? Is there a limit, or is it just based upon how many patients you have?
In Ohio it looks like it will go from cultivator - processor - dispensary. So, in plain english, how much does marijuana cost in this legal traffic? When I went to Colorado, I found that dispensary prices were more or less the same as on the black market. So how much does a cultivator charge? Then how much to a processor, and so forth? How much can I charge and make off of an ounce or a pound?
I read that the IRS Code 280E can tax you on not just your net profits, but your entire expenses. If thats true, that alone could take away almost everything you made in a year.
And finally, I saw that there will be employee license fees, and they will range from $50-500. Any information on how much they are in other states would be appreciated.
If you think this post should go in another forum, I'd be happy to move it.
Thanks for your time
Ernest
The main question I have is: will it be profitable? I have to pay an 8,000 application fee, then an 80,000 license fee every two years. I started trying to find information online in comparison to other states, and that seemed high. Is it?
The good news is that the state will only be issuing 40-60 licenses in the first year, meaning if I were lucky enough to be selected, I would have many more customers than what would be typical for a dispensary. An article from the Columbus Dispatch suggested that there would be 4,700 patients per Dispensary in at least the first year.
Which brings me to to more questions. How much marijuana can I run through my store? Is there a limit, or is it just based upon how many patients you have?
In Ohio it looks like it will go from cultivator - processor - dispensary. So, in plain english, how much does marijuana cost in this legal traffic? When I went to Colorado, I found that dispensary prices were more or less the same as on the black market. So how much does a cultivator charge? Then how much to a processor, and so forth? How much can I charge and make off of an ounce or a pound?
I read that the IRS Code 280E can tax you on not just your net profits, but your entire expenses. If thats true, that alone could take away almost everything you made in a year.
And finally, I saw that there will be employee license fees, and they will range from $50-500. Any information on how much they are in other states would be appreciated.
If you think this post should go in another forum, I'd be happy to move it.
Thanks for your time
Ernest