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Florida
Cannabis Market
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Florida Cannabis Market At-A-Glance

Overall Rating: A-
The Florida cannabis market is set to boom in the upcoming years, with 2022 expected medical sales to hit the trillion dollar mark. Florida offers a great spot for cannabis investment opportunities in the medical market.
Medical Use: Yes
Adult Use: No
Market Potential
A+
High growth market. The market potential in Florida is great because it is a highly populated state with unlimited dispensary licenses for medical cannabis.
Licensing
B
The licensing application is very expensive. No information on fees.
Competition
B
Steadily increasing as the market continues to grow.
Tax/Regulatory Structure
A
Low state sales tax.

Florida Cannabis Details

Population (Rank)
21,480,000
#3
Size/Density
405.45 sq. miles
#10
Medical Cannabis?
Yes
2016
Adult-Use Cannabis?
No
NA
2020 Medical Sales
2022 Projected Medical Sales
$456,000,000
$1,700,000,000
+273%
2020 Adult Use Sales
2022 Projected Adult Use Sales
NA
NA
NA
Regulatory Agency
Florida Department of Health
http://www.floridahealth.gov
# of Dispensaries (allowed/issued)
No limit
103
# of Cultivators (allowed/issued)
No separate license
NA
# of Manufacturers (allowed/issued)
No separate license
NA
# of Testing Labs (allowed/issued)
No separate license
NA
Vertical Integration?
NA, but also not really possible
Residency Requirements?
For first round under old law, had to be a nursery in operation for more than 30 years, but unclear how Constitutional Amendment will affect this.
Social Equity?
No

Cannabis Taxes

Combined Tax Rate
6%
Excise Tax
NA
Retail Sales Tax
NA
Local Sales Tax
NA
State Sales Tax
6%
Cultivation Tax
NA

Licensing Fees (per year)
*Varies based on gross revenue

NA
NA

Application Fees

Non-Refundable Application Fee
$60,036
13/09/2021

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