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How to Open a Dispensary in Virginia
Virginia lawmakers have passed HB 2312 allowing for retail sales to begin in 2024.
Under this law, possession of up to one ounce of marijuana would be legalized
beginning July 1, 2021. A tax system framework would be implemented for retail
cannabis sales, allotting 30% of tax revenue to a Cannabis Equity Reinvestment
Fund. The bill sets a 21% excise tax on marijuana and allows municipalities to add
an additional 3% tax on retailers on top of existing sales taxes.
Virginia's legislature recently has passed SB 313, which allows medical processors
within the state to start their recreational cannabis sales starting this fall.
Automatic expungement is provided for all past low-level cannabis offenses,
aiming to aid those affected most harshly by cannabis laws.
Cultivation at a private residence is allowed under this bill, but capped at no
more than four plants per household. Public consumption would still carry a $25
fine. A 5 person committee is proposed to oversee the adult-use marijuana market,
issuing fines and determining license eligibility. This committee would also be
responsible for establishing licensees, noted in the bill to not exceed 400 retailers,
25 wholesalers, 450 cultivators, or 60 product manufacturers. Under this law,
edibles must comply with a five milligram per serving,
and a 50 milligram per package limit.
Available Recreational Marijuana License Types
The Cannabis Control Authority will not release marijuana regulations or accept
applications before 2023, but this can be subject to change. It will not be legal to
sell marijuana before 2024. The following license types will be available in 2023.
Cultivation Class A (regulating a certain amount of plants per square feet)
Cultivation Class B (regarding 1% THC)
Vertical integration would be allowed in limited circumstances including
micro-businesses. Priority licensing is given to “Social Equity Applicants”
defined as individuals with a prior cannabis conviction, relation to someone
who has a prior cannabis conviction, maintains residence in an area that is
disproportionately affected by cannabis arrests, or has graduated from a
Virginia HBCU. Applicants who fall under this term will receive licensing priority
from July 1st, 2023 to December 31st, 2023. Regulators are also allowed to waive
certain percentages of application fees for Social Equity Applicants.
How much does it cost to open a dispensary in Virginia?
There is not a set application fee for recreational licenses at this time.
The Cannabis Control Authority will establish these figures at a later date.
Please check back for updates on this topic.
Applications are open for Industrial Hemp Growers, Dealers, and Processors at
Application Fees/Start up Costs for Hemp Cultivation
$50 application fee for Industrial Hemp Growers, Dealers, and Processors
In 2015, Governor Terry McAuliffe signed two bills that provided an affirmative defense for epilepsy patients in possession of CBD or THC-A oil with a doctor’s recommendation. In 2017, Gov. McAuliffe signed SB 1027, a bill that enabled patients suffering from intractable epilepsy to access cannabidiol (CBD) or THC-A oil.
In 2018, the Gov. McAuliffe signed House Bill 1251, expanding the state’s medical marijuana program to allow the use of cannabidiol (CBD) or THC-A oil for the treatment of any diagnosed condition or disease determined by a medical practitioner. As of July 1, 2019, patients may enroll in the program with the state Board of Pharmacy with their physician’s authorization.
The Virginia Board of Pharmacy closed applications for Pharmaceutical Processor Licenses on June 8, 2018. The five licensed companies are: PharmaCann Virginia, Dalitso, Dharma Pharmaceuticals, Green Leaf Medical of Virginia, and Columbia Care.
On July 1, 2019, 3 medical marijuana bills signed by Virginia Governor Ralph Northam went into effect. Each bill expands Virginia’s medical marijuana program. One bill allows school healthcare providers to administer medical marijuana oil to registered patients while at school. Another bill, known as the “Let Doctors Decide” bill, allows Virginia doctors to recommend medical marijuana oil for any diagnosed condition or disease. The last bill allows “registered agents” to receive medical marijuana oil on behalf of a patient, often referred to as a “caregiver” in other states.
• February 2021: Virginia law makers pass HB 2312, a bill to regulate and sell cannabis recreationally starting in 2024.
• March 8, 2020: Virginia legislature passes SB2, a bill to decriminalize marijuana.
• June 1, 2019: state expands medical marijuana policies to provide access to more patients.
• June 8, 2018: Virginia Board of Pharmacy closes applications and grants five licenses for Pharmaceutical Processors.
• February, 2015: Gov. McAuliffe signs affirmative defense laws for epileptic patients possessing CBD or THC-A oil with medical recommendation.
Estimated market size
Virginia, which recently legalized adult-use cannabis, is projected to see over $109 million in their first year, $364 million in their second, and $866 million in their third, totaling over $1.3 billion in projected cannabis retail sales. - Akerna
how to start a marijuana business virginia
If you are just starting your marijuana business, the next best step is to start a Business Plan to help educate your team and be ready to apply for a marijuana business license. If you are ready to apply for a Marijuana Business License in Virginia, please Contact us or call our office to set an appointment to get started. You can also select another State Opportunity, or fill out our Contact Form to discuss potential strategies such as Investment or Partnership Opportunities.