As we previously broadly summarized on December 27, 2022 (here), in late December 2022, the Office of Cannabis Management (“OCM”) released its first proposed adult-use cannabis rules and regulation for New York (the “Proposed Regulations”). The official document is 282 pages, so we won’t cover every detail. But we will highlight the big-ticket items, significant issues that all applicants should be aware of, and the license application process as a whole. Also, keep in mind that the Proposed Regulations are still pending as OCM receives the final public comments to the Proposed Regulations.
One of the less defined and still ambiguous portions of the Proposed Regulations relates to those applying for a cannabis license as a microbusiness, as we await on the determination of the size and scope of eligible microbusinesses.
What are microbusinesses and their licenses?
A microbusiness is a cannabis business subject to certain size and operational restrictions. The Marijuana Regulation and Taxation Act (the “MRTA”) allows certain businesses with less access to capital to enter into the legal cannabis market by applying for a microbusiness license which authorizes the small-scale production, sale, and delivery of cannabis.
A microbusiness licensee may, to a limited degree, engage in cultivation, processing, distribution,
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