An inflow of recent recreational marijuana companies could be coming to Michigan a while after Nov. 1.
If that occurs, marijuana prospects might even see decrease costs and a higher choice of recreational marijuana. It could additionally push medical marijuana consumers, who play an more and more smaller roll within the Michigan marijuana universe, additional to the aspect.
The Michigan Regulatory Agency is contemplating casting off a requirement that any recreational marijuana applicant first possess a medical marijuana enterprise license, a stipulation that’s to date restricted entry to the recreational market and ensured a sure degree of provide and retail options for medical marijuana prospects.
“No decision has been officially made, yet,” Marijuana Regulatory Agency Director Andrew Brisbo mentioned. ” … But I’ve talked about publicly quite a few occasions that we had been leaning in that path of eliminating the requirement.”
Budget forecasters in Lansing are relying on the recreational marijuana trade hitting $1.5 billion in complete gross sales between October of this yr and September of 2020, which interprets to almost $240 million in tax income for the state. While Brisbo mentioned the market is already on tempo to meet that mark, opening it up to extra members is bound to additional enhance Lansing’s lower, which features a 6% gross sales and 10% excise tax. [Read more at MLive.com]