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Illinois Medical Marijuana Business Applications Due Monday

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Two Illinois state agencies will accept applications for medical marijuana businesses until 3 p.m. Monday. The Department of Financial and Professional Regulation and the Department of Agriculture will take applications for dispensaries and cultivation centers. The state's new medical marijuana law went into effect Jan. 1, but the first crop can't be planted until permits for growers are issued later this year. The law prohibits patients from growing their own cannabis. Commercial growers will pay a 7 percent privilege tax on their marijuana sales. Illinois expects to grant up to 21 permits for cultivation centers and up to 60 permits for dispensaries. There is a non-refundable application fee of $25,000 and a first-year registration fee of $200,000.



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Source: Dailyherald.com
Author: Associated Press
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Website: Illinois medical marijuana applications due Monday - DailyHerald.com