The Class C grower license in Michigan is expanding in popularity, particularly for those who want to start large-scale cultivation operations. But what exactly is this license? And what are the requirements to obtain it? Exactly how much will it cost to get one?
Keep reading to learn everything you might want to know about getting a Class C Grower License in Michigan.
Need help obtaining your Michigan Class C Grower License? Contact us now to speak with one of our experts and learn how we’ll ensure your legal MI grow operation’s success, starting with the appropriate license for your operations.
Michigan Class C Grower License Requirements
For those seeking a Class C license for cannabis cultivation, you should know that the state has minimum capital requirements. This means that potential licensees must have a certain amount of money on hand to be considered for the license. In Michigan, this capital requirement is $500,000.
As a result, applicants must list their resources in addition to the overall amount of money they intend to use for operations and facility maintenance.
In addition, applicants must also demonstrate the following:
- 25 percent of the capital in liquid assets they intend to utilize to cover your operating and maintenance expenses for their proposed cannabis facility as stated in the application.
- The applicant must be in possession of cannabis inventory that adheres to the Michigan medical marihuana act’s compliance demands and they must be a registered qualifying patient or registered primary caregiver.
- The most amount of cannabis and plants that can be utilized as inventory for the purpose of this subdivision is 15 ounces of usable cannabis or 72 cannabis plants to meet the capitalization requirement established by the state.
- None of the assets offered as sources of capital are encumbered or have a lien against them.
In order to confirm the validity of your capital sources and totals, you must have CPA-attested financial statements. Northstar can help you obtain these if needed. You will also need to disclose any foreign capital sources that you have, and a domestic CPA will need to validate with a foreign CPA in order to confirm the validation from abroad.
Class C Michigan Grower License FAQ
How much is a Class C growers license in Michigan?
Getting a Class C growers license in Michigan will cost you a minimum of $500,000 in capital. But you’ll need to pay some fees, too. This capital serves as proof that you’re capable of financing your operation. You’ll also have to pay $24,00 for the renewal fee.
How many plants can you grow with a Class C license in Michigan?
Your Class C License will allow you to grow up to 1,500 cannabis plants. Thus, if you’re looking to scale a grow operation to 1,500 plants or fewer, the Class C License should suffice.
How many Class C licenses are there in Michigan?
According to Michigan state law, licensees can stack up to five class C licenses. With this being the case, class C licensees can have up to 7,500 adult-use marijuana plants if they stack their licenses.