An ordinance establishing business license fee for medical marijuana cultivation facilities and dispensaries is on the agenda for Wednesday’s Texarkana, Ark. Board of Directors’ meeting.
If the resolution were to pass, to sell medical marijuana in Texarkana, Ark. a business will have to acquire a $7,500 business license. That license will renew yearly at $11,250 + 25% of average inventory value for the last year. A marijuana cultivation operation will require a $50,000 per year business permit.
The ordinance is on the agenda as an emergency item which lets the board vote after only one reading.
Medical Marijuana Businesses will also have to pay license fees to the state. Only 32 dispensaries will be allowed permits in the State of Arkansas. Four dispensary licenses will be issued in each of eight geographical zones.
The board meeting will be at noon at Texarkana, Ark. City Hall.
View the entire board agenda here.