Retail Sales of Cannabis In Connecticut as of July 2021

Retail Sales of Cannabis In Connecticut as of July 2021

Professor DeBacco


Connecticut Example
https://portal.ct.gov/cannabis/Knowle...
All Information presented is based of Cannabis Information provided by the State of Connecticut on July 1st-July 8th, 2021
This is only applicable for Connecticut and is subject to change at anytime, so please check your local and current regulations this is only intended to be used as a point in time general example.



Can I buy or sell products with delta-8-THC or delta-10-THC in Connecticut today?
No, you may not sell products that exceed 0.3 percent THC on a dry weight basis.
These products are considered cannabis and can only be sold in the adult-use market by a licensed retailer.
Sales of cannabis products from licensed retailers are not expected to begin in Connecticut until late 2022.
If your product label states a total THC or THC content of less than 0.3 percent on a dry-weight basis, your product likely complies with the law.
If the label does not clearly specify the total THC content or you are unsure, contact the manufacturer named on the label to confirm the product has less than 0.3 percent total THC on a dry-weight basis.

Delta products with THC content greater than 0.3 percent on a dry-weight basis will still be available to patients in the Medical Marijuana Program at their approved dispensary facility.


Are there packaging or labeling standards for CBD and legal Delta products?
For products below the 0.3 percent dry-weight THC limit, all federal and state laws concerning labeling and packaging still apply to any food, drugs and dietary supplements, such as the Connecticut Food, Drug and Cosmetic Act.



I am interested in starting a business or working in the industry. How can I participate?
More information on starting cannabis businesses will be coming soon from the Department of Consumer Protection, which will be responsible for licensing the new businesses.
Given the anticipated volume of applications, the department will conduct periodic lotteries to determine which applications to consider first.
These lotteries are expected to continue for at least the first few years of the market.
Half of the licenses will be reserved for social equity applicants, which are businesses that are 65 percent owned and controlled by individuals who lived for 5 of the last 10 years, or 9 of their first 18 years of life, in a disproportionately impacted area and have had an average household income of less than 300 percent of the state’s median household income over the last three years.
You may find more information about licensing costs, and the lottery process in other articles.


What are the license fees?
There is fee variability, so be sure to know what you are getting into…
What is the lottery process for applicants?
The Department of Consumer Protection will announce the total number of applications to be selected and allocate 50 percent of them to a Social Equity Applicant lottery.
An application period for each license type will be opened for a specific period of time, to be determined by the Department of Consumer Protection.
A list of all applications received for each lottery will be randomized and sent to the third-party lottery operator.
The third-party lottery operator will randomize the list of applications and identify the applications selected through the lottery.
The applications will be reviewed and if an application is denied, the next application in the list will be accepted until the total number is selected or there are no additional applications remaining.
The selected applicants will have to complete a provisional application and submit the appropriate fee.
The provisional licensee has 14 months to obtain a fully operational license.

Can I purchase hemp products in a dispensary facility without a medical marijuana card?
No.


How will cannabis be taxed?
There will be three (3) taxes on retail sale of cannabis: the state’s usual 6.35 percent sales tax, a 3 percent sales tax dedicated to the city or town where the sale occurs, and a tax based on THC content that will cost approximately 10 to 15 percent of the sale price.
In total, the tax rate is expected to be approximately 20 percent of the retail price of cannabis, in line with the tax rates in Massachusetts.





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