Massachusetts has issued the state’s first retail adult-use cannabis license, according to a MassLive report. The retail license allows the recipient company, Cultivate Holdings Inc., to sell adult-use cannabis out of its existing medical dispensary in Leicester, Massachusetts.

Cultivate was in competition with 19 other applicants for the first retail license, but it remains unclear when exactly Cultivate will be able to begin sales.

Massachusetts has fallen behind schedule in licensing the cannabis supply chain, especially for transportation and manufacturing. Earlier in June, the Massachusetts Cannabis Control Commission awarded the state’s first cultivation license to Sira Naturals. Other than Sira Naturals and now Cultivate Holdings, the Cannabis Control Commission has not approved any other licenses. Cultivate also applied for cultivation and manufacturing licenses, which are still awaiting approval.

When Cultivate launches operations, their retail license will still require a last inspection from the Cannabis Control Commission before the license is finalized. Also, while medical cannabis is not taxed in Massachusetts, adult-use cannabis is taxed up to three times: 6.25 percent state sales tax, 10.75 percent excise tax, plus possible local taxes that can add up to an additional 3 percent. When Cultivate begins adult-use sales, it will need to tally those separately from medical cannabis.

Cultivate told regulators that, as soon as the hurdles have been cleared and the company’s adult-use sales are profitable, the company will donate 10 percent of profits to local charities.

Do you own a cannabis industry business? Create a listing in our directory and get discovered by new clients - Click Here
.

Tags: , | Categories: Cannabis Business News Medical Marijuana News

Learn about cannabis businesses:

View the directory | Get featured here

  • Weed Pay LLC

    Weed Pay is a cannabis banking and merchant services company. We think differently than conventional credit card processing companies due to our history of handling high-risk accounts. We are experts in the field of alternative payment options, merchant accounts, and banking. Our mission and vision are to provide needed customer support services to the cannabis industry within these areas.

  • Smokin’ Hot Solutions

    Smokin’ Hot Solutions was started seven years ago by three entrepreneurs from Philadelphia. From various entrepreneurial backgrounds, we came together with one cohesive goal; to build a cannabis marketing agency with an innovative and thoughtful approach. At a time when there were few specialty cannabis marketing agencies, and few willing to take the risk, we seized the opportunity. We cemented ourselves as the go-to agency for digital marketing in the cannabis industry.

  • Hay & Associates

    We are a full-service Accounting firm licensed in CA. We offer a broad range of services for business owners, executives, and independent professionals. We are affordable, experienced, and friendly.

  • My Cannabis Accountant

    We are a Boutique Accounting firm focused on the cannabis industry. Our management team has over 100 years of combined experience in public accounting. Running a legal cannabis-based business can be complicated. Let us make sure your business is compliant with all federal, state and local financial regulations so that you can focus on your business.

  • Diamond Business Loans

    Diamond Business Loans, is a Direct Lender, Syndicate, and Brokerage. Whether you need to get new equipment, finance your accounts receivable and inventory, raise working capital, or acquire a company, DiamondBL.com can do it all. From StartUps to well-established businesses, we have a financing solution for you. Please contact us today for a free, no obligation analysis of your financing needs.

  • AD Virtual Services

    We are a full-service Accounting firm licensed in NV that specializes in Cannabis Businesses. We are affordable, experienced, and friendly. Our firm is one of the leading firms in the area. By combining our expertise, experience, and the energy of our staff, each client receives close personal and professional attention. Please call us today, and we'll be happy to offer you a free initial consultation.

  • Emerald Elite Consulting

    We are cannabis cultivation specialists. With over 40+ years of combined experience from the heart of American cannabis history and innovation, the Emerald Elite team and its network of cultivators offer a truly unparalleled depth of experience for our clients' advantage. Production of the cleanest, highest quality cannabis in the world is our passion.

  • Cannabis Cash Solutions

    At Cannabis Cash Solutions we specialize in automating cash handling for marijuana-related businesses. Our turnkey cash management system makes it easy to start protecting your investment today.

  • Cannabis Accounting Group, a CWSEAPA Company

    We believe that what sets us apart from other accounting firms, is working within the Tax Code to find a way around the oppressive Section 280E Rules.

  • New Approach Bookkeeping LLC

    New Approach Bookkeeping provides cannabis companies with their day-to-day, monthly, quarterly, and yearly financials. Our services include full cycle bookkeeping, HR business consulting, cash management, and payroll services for the cannabis industry. We have over 3 years experience and understand the 280e publication and how it affects all entities of the cannabis industry.

  • Hardcar

    HARDCAR is a world class asset protection and armored transportation company From ground breaking cybersecurity to robotics and custom built solutions to meet customer demand we believe in real customer satisfaction not lip service.

  • CORE Security Solutions

    CORE Security Solutions, Inc. provides security services to a wide array of clients, including the rapidly growing cannabis industry. We are fully licensed and insured by the California Bureau of Security and Investigative Services (BSIS). We currently provide security services to several local cannabis dispensaries in the Bay Area and secure transport and delivery services for cannabis products and proceeds throughout California. Our security specialists are all licensed and our transport vehicles are equipped with secure storage and GPS tracking.

Want a job in the cannabis industry?

Sign up to apply for unlimited jobs and get discovered by companies who are hiring

Post Your Resume View all jobs

Best vacancies

Subscribe for daily cannabis news, announcements, and business insights.