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Cannabis Business in New Jersey – Fees

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Are you planning to operate or already operating Cannabis Business in New Jersey?

Get yourself an active and in good standing license to perform any commercial cannabis activity. The Cannabis Regulatory Commission issues licenses for medicinal and recreational cannabis business operations.

Each business requires a license, whether you are doing the following: Growing cannabis plants, Storing cannabis and cannabis-related products, Making cannabis products, Transporting or delivering cannabis and cannabis products, Selling cannabis and cannabis products, or Testing cannabis and cannabis-related products.

The Cannabis Regulatory Commission accepts applications for personal use (recreational) cannabis businesses in the following categories: Licenses for Class 1 cultivators, Class 2 manufacturers, Class 5 retailers, and Class 6 testing laboratories.

There are requirements for each business structure you would need to be aware of before you begin your process. Licensing Fees are due upon application approval and each year after that when submitting a renewal application. Check the fees associated with obtaining a license on this provided New Jersey Cannabis Regulatory Commission Fee Schedule.

NOTE: Unless otherwise specified by the Commission, all fees paid are non-refundable.

Cannabis Equity Grant Program released to support Cannabis Business Start-ups

New cannabis businesses may be eligible for state funding to cover start-up costs. The New Jersey Economic Development Authority (NJEDA) Board launched a brand-new Cannabis Equity Grant Program on December 21st, 2022. This initiative was created to assist with startup costs and technical training in the rapidly expanding cannabis industry. Applications will be accepted for 180 days after the Grant Program is officially launched. The Board approved up to $10 million which is readily available to applicants.

Sixty percent of the funds are reserved for individuals with prior cannabis convictions or who live in economically disadvantaged areas. Such businesses may be eligible for up to $250,000 in funding to help with startup costs such as wages, utilities, rental expenses, and regulatory fees.

To be eligible, the business must have a conditional cannabis license, be formed after March 2020, and employ 50 or fewer employees. These grantees will be required to attend business education and technical assistance courses provided by NJEDA. For businesses in economically disadvantaged areas, there is no application fee.

While on the other hand, Forty percent will be available to all businesses with conditional licenses, municipal approval, and site control over their business real estate. These businesses can receive up to $250,000 in grant funding to cover eligible expenses. There is a $1,000 application fee.

About Five percent will be available for businesses in “Impact Zones” determined by a variety of socioeconomic factors such as unemployment rates, population, and marijuana arrests.

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Cannabis Business in New Jersey - Fees

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Disclaimer: This article is for information purposes only hence not directly related to Addy and Mark in any way. Always check the official website for updated information.

Last Update: February 3rd, 2023

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