HOW MANY BITCOINS TO APPLY FOR AN L.A. CANNABIS LICENSE?

At a meeting this week, the LA City Council adopted a draft ordinance on the subject of the fees and fines for cannabis licensing, bringing the city one step closer to opening its official cannabis licensing process. Our Los Angeles Cannabis Lawyers are often asked how much the compliance process will cost. Now that LA has published their fee schedule, many existing cannabis businesses have sticker shock.  Existing cannabis retailers, for instance, will have to pay nearly $10,000 for an official LA retail license. Cannabis microbusiness owners will need to pay fees for each cannabis activity they are conducting. The City will likely only accepting payment in cash or by check (no bitcoin, yet).

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As a report released by the Council’s Budget and Finance Committee describes, the introduction and implementation of commercial cannabis licensing will be a massive, demanding project. These large fees are likely intended to help reduce the burden on the city’s budget and staffing, and hopefully will mean your application can be processed faster (since they will be able to hire more reviewers).

While the city still has yet to announce the exact date on which commercial cannabis licensing applications will be opened, finalizing these fees and fines is an indication that the city is at the last stages of designing the application process. We are expecting publication of the applications and submittals VERY SOON.

Current cannabis business operators are racing to find the information required in the draft regulations released by the city so far, as well as the emergency guidelines put out by the state’s Bureau of Cannabis Control and the other regulatory agencies. For more information about the LA and California application process, contact our los angeles cannabis attorneys at info@margolinlawrence.com

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