The New York Microbusiness License is set to offer small business owners in the state the opportunity to become involved in the cannabis space without worrying about competing with industry giants. But what exactly does this microbusiness license entail?
In this post, we cover New York Microbusiness licensure and what it entails. We also explain some of the most frequently asked questions pertaining to these licenses.
NY Microbusiness License Cost & General Info
Microbusiness licensure allows operations to cultivate, process, distribute, and dispense their own line of adult-use cannabis and cannabis products. This license has the chance to revolutionize the way New Yorkers participate in the cannabis space, and with it, we expect small businesses to obtain their own share of the market as New York’s legal cannabis marketplace begins to take shape.
Considering opening a dispensary? Make sure to check out our article covering how to open a dispensary in New York.
A microbusiness is a licensee that’s allowed to act as a cannabis producer through cultivation, as well as a cannabis processor and distributor. These operations can also perform cannabis retailer operations under the microbusiness article. However, licensees must comply with all requirements in place in accordance with the article. This means licensees must follow all rules regarding producing, processing, and distributing activities.
According to MRTA 73-1, microbusinesses have “limited ability to cultivate, process, distribute, deliver, and dispense its own cannabis.” Furthermore, the CBB will set the rules regarding the size, scope, and eligibility criteria for microbusiness operations.
However, at this point, we don’t know what a New York Microbusiness license will cost. But we believe we’ll know soon enough!
How Big is a Microbusiness in New York?
Regulations by the Board will determine the size of microbusinesses operating in New York. The Board will consult with the executive director and the state’s cannabis advisory board. Once license distribution begins, the idea is to promote both social and economic equity applicants.
New York Adult-Use License Limitations
Microbusiness licensees cannot hold interest in other licenses. They’re solely allowed to distribute their own cannabis and cannabis products to the dispensaries, as well.
Owners of these licenses can’t sell cannabis or cannabis products to other licensees.
New York Dispensary License FAQ
What does the NY Microbusiness License cost?
If it’s anything like the dispensary license in NY, every applicant will need to submit two fees with their applications. One is the non-refundable application fee of $10,000. Then, there’s a registration fee that costs $200,000. The $200,000 registration fee is refunded if the applicant does not receive his or her registration.
Where can I find my microbusiness license NY application?
For more information about microbusiness license NY applications, you can visit the Office of Cannabis Management’s website. This is where you’ll find applications and the application processes outlined for different cannabis business license types.
Closing on the New York Microbusiness License
Microbusiness licenses offer opportunities for small business owners to enter the cannabis field. However, New York’s adult-use industry is still in its early stages. This means more announcements will be made about additional rules and restrictions.
We’ll continue to update our posts as more news becomes available.
In the meantime, you can learn all about New York’s medical marijuana program by subscribing to our blog. We’ll continue publishing more information and news about this license, along with other New York cannabis business licenses, as more information is released.
Other Types of New York Cannabis Licenses
- Adult Use Cultivator License
- Adult Use Processor License
- Small Business Cooperative License
- Adult Use Distributor License
- Adult Use Retail Dispensary License
- New York Cannabis Delivery License
- New York Cannabis Nursery License