What Are The Requirements For Obtaining A License To Operate A Marijuana Retail Dispensary in New Mexico?
In order to obtain a retail marijuana license in New Mexico, an individual or business must submit an application to the state’s Regulation and Licensing Department. The application must include the following:• A completed application form
• A nonrefundable application fee of $250
• A proof of financial responsibility bond (minimum $50,000)
• A background check of all owners and operators of the business
• A detailed business plan including projected revenue and expenses
• An operating agreement outlining the responsibilities of the owners and operators
• Evidence of zoning compliance
• Evidence of compliance with all state and local laws
• Tax identification number
• Proof of liability insurance
• Plans for security measures including video surveillance, alarm systems, and safety protocols
• A list of all personnel employed by the business
• A diagram of the premises layout
• The applicant’s proof of identity
• Any additional documents required by the state’s regulations.
Are There Limitations On The Number Of Marijuana Retail Dispensary Licenses Issued in New Mexico?
Yes, the number of marijuana retail dispensary licenses issued in New Mexico is limited. The state currently limits the number of retail dispensary licenses to a maximum of 322 statewide. The New Mexico Department of Health Marijuana Program also requires applicants for dispensary licenses to have worked with the Department or another dispensary for a minimum of two years prior to application.What Zoning Restrictions Or Location Requirements Apply To Marijuana Dispensaries in New Mexico?
The New Mexico Department of Health has outlined the following zoning restrictions and location requirements for medical cannabis dispensaries in the state:1. Dispensaries must be located in a free-standing building, not within any residential zone or within 1000 feet of any school, day care center, church, or public playground.
2. Dispensaries must also comply with local zoning ordinances and be located in an area designated to allow the sale of cannabis by a local governing body.
3. Dispensaries also must be located at least 500 feet from any other state-licensed dispensary.
4. Dispensaries must not be located on public lands.
5. Dispensaries cannot be located in any area where the sale of alcohol is prohibited.
What Types Of Marijuana Products Can Be Sold In Retail Dispensaries in New Mexico?
The types of marijuana products that can be sold in retail dispensaries in New Mexico include: flower, concentrates, edibles, tinctures, topicals, and vape cartridges.Are There Specific Labeling And Packaging Requirements For Marijuana Products in New Mexico?
Yes. All marijuana products must be labeled and packaged in accordance with the standards set forth by the New Mexico Department of Health (NMDOH). These include: child-resistant packaging, product potency, listing of ingredients, labeling of allergen warnings, health warnings, and a product expiration date. Additionally, all packaging must be able to prevent contamination from outside sources. It must also be tamper evident and have a warning label that states the products are for adult use only. Furthermore, all labeling must be done in both English and Spanish.How Are Marijuana Prices Determined And Regulated in New Mexico?
Marijuana prices in New Mexico are determined by the supply and demand of the market as well as the state-mandated excise taxes. There is a 12.5% excise tax on cannabis flower and a 7.6875% excise tax on cannabis products like edibles and concentrates. The New Mexico Regulation and Licensing Department also sets minimum and maximum prices for medical marijuana products to ensure that dispensaries are not overcharging customers.What Are The Security And Surveillance Requirements For Marijuana Dispensaries in New Mexico?
The State of New Mexico requires all medical marijuana dispensaries to comply with security and surveillance regulations found in the Regulation and Licensing Department-Medical Cannabis Program Rules & Regulations (NMAC 7.34.2). These rules and regulations provide specific requirements for security and surveillance within dispensaries. Security requirements include the use of restricted access areas, alarm systems, video surveillance, and other measures to promote safety in the establishment. Surveillance requirements mandate that dispensaries maintain 24-hour video surveillance of the premises, as well as the areas where marijuana is stored and sold. Dispensaries must also submit a detailed plan describing their surveillance system to the Department of Health prior to opening. Additionally, all dispensaries are required to keep records of all sales and to monitor customer activities.Are There Restrictions On Advertising And Marketing Of Marijuana Products in New Mexico?
The legality of advertising and marketing marijuana products in New Mexico is not yet established. The New Mexico Department of Health has proposed regulations that would prohibit most advertising and marketing activities involving cannabis products, including billboard and radio ads. Additionally, these regulations would require all cannabis product labeling to include health warnings, restrictions on the use of any images or symbols that promote marijuana use, and additional restrictions on the location and size of these advertisements. Until such regulations are finalized and adopted, it is recommended that businesses in New Mexico refrain from any advertising or marketing activities involving marijuana products.What Is The Minimum Age Requirement For Entering A Marijuana Dispensary in New Mexico?
The minimum age requirement for entering a marijuana dispensary in New Mexico is 21 years old.Are There Restrictions On The Hours Of Operation For Marijuana Dispensaries in New Mexico?
Yes, marijuana dispensaries in New Mexico must operate between 8 a.m. and 8 p.m., seven days a week.What Are The Tax Implications For Marijuana Retail Sales in New Mexico?
The taxation of marijuana retail sales in New Mexico is established under the Cannabis Excise Tax Act. This act requires each licensed marijuana producer and retailer to pay a gross-receipts tax rate of 7% on all retail sales of marijuana. This rate is set to increase to 9% on July 1, 2021. In addition, local governments may also impose additional taxes on the sale of marijuana. For example, the City of Albuquerque imposes an additional 4% tax on marijuana retail sales.In addition to the taxes collected at the point of sale, retailers are required to report their sales to the state tax authority every quarter. The reported sales are then subject to state income tax at the prevailing rate. Finally, retailers must also ensure that they are in compliance with all other federal and state tax laws regarding income, payroll, and property taxes.