Ohio - GreenGrowth CPAs

Market Map

Ohio
Cannabis Market

Ohio Cannabis Market At-A-Glance

Overall Rating: B+

Although Ohio legalized medical cannabis in 2016, sales did not begin until 3 years later in 2019 with a bumpy start. Ohio’s market has not yet met maturity, so there is projected growth in this state.

Medical Use: Yes

Adult Use: No

Market Potential

B+

There is potential for manufacturers and testing labs in the Ohio medical cannabis market. Other types of licenses are capped and near capacity.

Licensing

The licensing fees are expensive with annual renewal fees. Dispensaries are subject to a biennial renewal fee.

Competition

Competition in Ohio is fair, although it is expected to increase in the upcoming years as the market matures.

Tax/Regulatory Structure

Ohio has a low state tax.

Ohio Cannabis Details

Population (Rank)

11,690,000

Size/Density

286.1 sq. miles

#10

Medical Cannabis?

Yes

2016

Adult-Use Cannabis?

2020 Medical Sales

2022 Projected Medical Sales

$21,000,000

$298,000,000

+132%

2020 Adult Use Sales

2022 Projected Adult Use Sales

Regulatory Agency

Ohio Department of Commerce and Board of Pharmacy. The Department of Commerce will oversee growers, processors, and labs. The Board of Pharmacy will oversee dispensaries

https://www.pharmacy.ohio.gov

# of Dispensaries (allowed/issued)

# of Cultivators (allowed/issued)

# of Manufacturers (allowed/issued)

# of Testing Labs (allowed/issued)

No limit

Vertical Integration?

Allowed with limitations

Residency Requirements?

Social Equity?

No – possibly this year

Cannabis Taxes

Combined Tax Rate

6.5-7.25%

Excise Tax

Retail Sales Tax

Local Sales Tax

State Sales Tax

6.5-7.25%

Cultivation Tax

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

Cultivation Certificate of Operation Fee

$20,000-$200,000

Processor Certificate of Operation Fee | Annual

$90,000 | $100,000

Laboratory Certificate of Operation Fee | Annual

$18,000 | $20,000

Dispensary Certificate of Operation Fee | Biennial

$70,000 | $70,000

Application Fees

Dispensary License Fee

$5,000

Cultivation License Fee

$2,000-$20,000

Processor Application Fee

$10,000

Testing Lab Application Fee

$2,000

13/09/2021