{"id":397,"date":"2017-11-09T00:00:00","date_gmt":"2017-11-09T04:00:00","guid":{"rendered":"http:\/\/baronedefensefirm.lawblogger.net\/blog\/money-needed-to-obtain-commercial-medical-marijuana-license\/"},"modified":"2025-01-08T14:38:54","modified_gmt":"2025-01-08T18:38:54","slug":"money-needed-to-obtain-commercial-medical-marijuana-license","status":"publish","type":"post","link":"https:\/\/www.baronedefensefirm.com\/blog\/money-needed-to-obtain-commercial-medical-marijuana-license\/","title":{"rendered":"How Much Money Will I Need to Obtain a Commercial Michigan Medical Marijuana License?"},"content":{"rendered":"<p>You will need a minimum of $150,000.00 and as much as $500,000.00 of both liquid and non-liquid assets combined.\u00a0 Many observers believe that these numbers are way too low, and this is because after obtaining a license, the licensee must then run a successful business.\u00a0 As a licensee, this means that in addition to obtaining a license, you subsequently will have all the associated business costs, such as rent, insurance and labor, not to mention security, legal and accounting costs, just to name a few.<\/p>\n<p>Also, if you are hiring one or more professionals to assist you preparing for and\/or applying for your commercial\u00a0medical marijuana license, these fees would also need to be added to LARA\u2019s projected capital requirements.<\/p>\n<p>The $150,000 &#8211; $500,000 number is based on a recent LARA advisory bulletin.\u00a0 When the bulletin was first released there was an open question as to whether these assets had to be liquid, or if investments, including retirement accounts, would count toward this assessment?\u00a0 A subsequent clarification from LARA indicated that:<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.baronedefensefirm.com\/blog\/money-needed-to-obtain-commercial-medical-marijuana-license\/\"  title=\"Continue Reading How Much Money Will I Need to Obtain a Commercial Michigan Medical Marijuana License?\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>You will need a minimum of $150,000.00 and as much as $500,000.00 of both liquid and non-liquid assets combined.\u00a0 Many observers believe that these numbers are way too low, and this is because after obtaining a license, the licensee must then run a successful business.\u00a0 As a licensee, this means that in addition to obtaining [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-397","post","type-post","status-publish","format-standard","hentry","category-marijuana-laws"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Money Needed to Obtain a Commercial Michigan Marijuana License<\/title>\n<meta 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name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Money Needed to Obtain a Commercial Michigan Marijuana License","description":"Marijuana defense attorney Patrick Barone details how much capital is needed to obtain a commercial Michigan medical marijuana license.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.baronedefensefirm.com\/blog\/money-needed-to-obtain-commercial-medical-marijuana-license\/","twitter_card":"summary_large_image","twitter_title":"Money Needed to Obtain a Commercial Michigan Marijuana License","twitter_description":"Marijuana defense attorney Patrick Barone details how much capital is needed to obtain a commercial Michigan medical marijuana license.","twitter_misc":{"Written by":"Patrick Barone","Est. reading time":"2 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