Craft Grower License Chicago
At Shapiro & Associates, we offer legal advice to business owners to operate safely without violating any laws. We also offer guidance and support in procuring craft grower license in Chicago. For more details on the steps involved, get in touch with us.
How much does cultivation license cost?
Each state charges its cannabis growers different fees. Most states accept only limited applications from marijuana cultivators each year. In Illinois, you must pay a standard cultivation business application fee of $25000 and an annual cultivation license fee of $100,000.
You may also have to pay extra for extended plant counts which can range from $4,000 to $10,000 based on the cultivation size. For help with grower's license and more tips on the application process, speak to one of our cannabis attorneys.
What are the license requirements for Marijuana?
The state of Illinois offers two different licenses for marijuana manufacturers; dispensary and growing operation. If you plan on becoming a prospective craft grower, your application will go through a fingerprint background check. This includes verification for past bankruptcies, financial supports in the form of child support or alimony, student loan defaults, etc. You may also have to present your tax returns from previous years to prove your financial standing.
You are allowed to own up to 3 cultivation permits. For more information on craft grower license in Chicago, speak to one of our attorneys today.
Financial requirements for starting a marijuana business
It is an expensive venture to start a medical/recreational marijuana business. Illinois is one of the most costly states for marijuana cultivation/production with extremely rigid entry rules and requirements. Apart from paying a $25000 non-refundable fee to obtain a cultivation permit, you will also have to pay an annual amount of $100000 for the renewal of your license. Furthermore, in the first year of your cultivation, you will have to pay a permit fee of $200000.
To enter the marijuana industry, you must demonstrate possession of liquid assets worth $500,000 and a bond worth of $2,000,000 to the Illinois Department of Agriculture. Get in touch with us for help with procuring a craft grower’s license.
How long will it take for me to start marijuana cultivation?
Your next window for applying for a license in Illinois is in the summer of 2020. You can expect anywhere from 9 - 12 months to get your cannabis cultivation up and running. You can use this period for arranging your finances, acquiring mandatory licenses and permits, hiring employees, sourcing suppliers, etc.
From the day you plant your crops, it can take up to 3 - 4 months before you can harvest. For help with getting your cannabis business started, talk to one of our attorneys today.
Are you clueless on how to apply for a craft grower license in Chicago? Worry no more; our highly skilled attorneys at Shapiro & Associates can help you with local zoning regulations, permits, and state licensing requirements. For more information, reach out to us.