Medical marijuana licensing: Colorado scores $8 million from new business regulations

By Joel Warner Tue., Nov. 16 2010 at 3:57 PM

Categories: Marijuana

Colorado is still enjoying the considerable windfall from its brand-new medical marijuana business licensing fees. As first reported by Face the State, Colorado has now collected more than $8 million in MMJ licensing fees since the rules went into effect this August, up from $7.3 million this summer.

The revenue from the new licenses, which can cost up to $18,000 for the largest kind of medical marijuana center, eclipses all other state licensing fees. For a comparison, Face the State tracked down other state revenue numbers so far for the 2010-11 fiscal year, which began on July 1. Here they are from highest to lowest.

Medical Marijuana License: $8,079,750

Division Of Real Estate License: $2,042,419

Division Of Insurance Licenses: $1,547,351

Alcoholic Beverages License: $1,284,718

Hazardous Materials/Waste Permit: $1,137,476.81

Dealer (Gaming) License: $921,309

Health Licenses: $879,197.84

Radiological License: $769,069

Barbers & Cosmetologists: $297,508

Child Care Licenses: $275,310.00

Chiropractic License: $74,293

Div of Wildlife Use Permits: $10,970

Considering all existing dispensaries and affiliated businesses had to pay their full licensing fees by August 1, 2010, the non-pot revenue sources listed above may close the gap with pot licensing fees as the fiscal year goes on and the state continues to collect licensing fees from traditional businesses. Still, $8 million dollars in MMJ fees is nothing to sneeze at, especially since the revenue source never before existed.