Montana CANNABIS CONSULTANTS
Higher Yields Cannabis Consultants offers a full range of cannabis consulting services in the state of Montana. Our vertically integrated consulting system offers a path to business success. From startup to scaling and expansion of your cannabis-related business and everything in-between our team of industry experts can help. If you have any questions please contact us online or call (844) HI-YIELD.
Important Wins from the 2020 Election: Montana
Montana’s ballot initiatives and their success have made history in 2020 because they both expanded their market to adult use and included marijuana at equal status in the constitution with alcohol for setting age restrictions.Montana didn’t lower the age of possession and consumption for cannabis or alcohol to 18 but rather established through a constitutional amendment that Montana residents 18+ are considered legal adults in all respects with the exception of alcohol and marijuana where statutes place the legal age for purchase, possession, and consumption at 21+.
Statutory Initiative 190 established possession limits, a regulatory framework, and a deadline for the first license application period which will only be open to current operators in good standing. The projected potential revenue from estimated tax collections for the state in the first fully operational year sit around $14 million almost $15 million going up to $21 million in the second year and $27 million in the third year. If these figures hold there can be as many as 1,304 jobs tied to the newly expanded market in the first year, 1,846 in the second year, and 2,411 in the third year. These projections have been calculated by Bridge West CPAs who evaluate this based off of other similar states.
Important Compliance Considerations for METRC in Montana
As part of the most regulated industry in history, cannabis operators face intense scrutiny from local and state governments. METRC, a seed-to-sale tracking system, helps operators stay compliant by creating an easily identifiable chain of custody for each cannabis product. Using METRC makes recalls easy and ensures accountability.
Mandated in 15 states plus Washington D.C., METRC is similar everywhere. However, there are nuances in each state. In order to remain compliant, businesses must be aware of and adhere to their state’s specific regulations.
As of January 1, 2021, recreational cannabis is legal in Montana. The Department of Public Health and Human Services has chosen METRC to be the seed-to-sale tracking system in place for this nascent market.
However, the state is still in the early stages of implementing METRC. We’re following this situation closely and will update you when we know more.
Montana Cannabis Opportunities
In 2004, voters passed Initiative 148, making Montana one of 33 states that have legalized marijuana for medical use. To open a medical dispensary in Montana, you can apply online through Complia’s Industry Portal. Here’s a look at some of the to-do’s for dispensary licensure applicants in Montana:
You must first have a Canopy License to become a Provider and/or MIPP. You can apply for a Canopy License and a dispensary license at the same time.
- All owners must submit fingerprints and have completed background checks.
- You must submit proof of government ID, such as a driver’s license or passport.
- If you’ll be renting the space used for your dispensary, you’ll need to submit a Property Owner Permission Form with your application.
- A license for one dispensary location costs $500.
All the necessary forms and steps are included in the Montana Medical Marijuana Program Dispensaries page on the Montana government website. You can check it out here.
Contact Us to discuss cannabis Licensing Opportunities in Montana
The History of Cannabis in Montana
Montana’s first medical marijuana laws were adopted in 2004 when Initiative 148 passed. Then, in 2011, lawmakers attempted a repeal effort, which ultimately resulted in Senate Bill 423. Though the medical marijuana program was not repealed, Senate Bill 423 laid a lot of red tape over the industry. In short, the law enacted provisions that ended up costing over 90% of patients their access to medical marijuana.
By the general election of 2016, voters had taken action against Senate Bill 423’s provisions that harmed both patients and providers. Fifty-seven percent of voters approved Initiative 182, a new piece of legislation that removed most of those harmful provisions and established the first real framework for marijuana businesses in the state.
Today, patients can register for the medical marijuana program with a recommendation from a licensed physician. They can get marijuana from a legal provider or even grow up to four mature plants themselves.
Montana Cannabis Consulting services
At Higher Yields Cannabis Consulting (HYC), our cannabis consultants are here to assist you with planning and building your cannabis business in Montana. Our team of canna advisors are well-versed in local laws on compliance, and we offer services that assist you in building your brand, creating your marketing plan, designing your website and assets, crafting your social media presence, and much more to help your business see success.
Contact us at (844) HI-YIELD to learn how we can assist you.
Market Conditions in Montana
Though Montana’s medical marijuana program got off to a rough start, growth is happening as more and more patients register. The number of registered patients has grown by more than 340% since 2016. Additionally, medical spending is projected to reach $144 million by 2024.
Montana is home to 1.06 million people and 372 dispensaries. Additionally, support for recreational adult use in the state is growing. A March 2019 poll from the University of Montana found that over 50% of registered voters support recreational adult marijuana use laws. The future of the Montana cannabis market looks promising, and there’s no time like the present to get in on the action.
Contact Higher Yields Cannabis Consulting Today
If you’re interested in opening a cannabis business in Montana, Higher Yields Consulting can help you take the first steps. We are a cannabis consulting firm full of industry professionals that pride ourselves on our proven ability to help our clients’ businesses soar. We can assist you with everything from state compliance to branding your new business. Ready to get started? Give us a call at (844) 449-4353 or fill out our online contact form to discuss how we can help you.
Schedule a FREE Consultation to Discuss our Hemp Business Services
Address 2590 Walnut St., Denver, CO, 80205