How to start a commercial grow operation in New Hampshire:
Although New Hampshire legalized medical cannabis in 2013 with the creation of “Alternative Treatment Centers,” you can’t actually start a growing operation here. Cannabis cultivation in New Hampshire is limited to industrial hemp grows. However, if you want to grow hemp, there are surprisingly few hurdles to jump through.
When was cannabis made legal
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On June 26th, 2013, the New Hampshire Congress passed House Bill 573. A month later, the governor signed it into law, and a year and a half later, the first facility was awarded a license.
While the “Use of Cannabis for Therapeutic Purposes Act” created the New Hampshire medical marijuana program, the “Hemp Growth Act” ensures that industrial hemp would be treated the same as any other agricultural product. This went into effect in 2017. CBD from hemp grown in New Hampshire soil is now a possibility.
How much money is there in the hemp market
Within the United States, the hemp industry is worth about $600 million every year, especially due to the many different types of ways to utilize hemp. This is likely to rise in the years to come as the industrial hemp industry in the U.S. continues to gain awareness and momentum.
Hemp Growing Operation Owner requirements
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Thanks to this new law, nothing special is required for growing hemp. It is treated as growing any other type of crop. Hemp may be grown to make commercial products such as food or clothing. Cultivation centers are required to operate in the industrial zone and are only allowed to grow specific types of hemp.
While there are no special licensing requirements for this type of grow operation, there are a few things to keep in mind. If you are planning on starting a large grow operation (or hemp farm), then, of course, certain business-related requirements will apply to you. Hemp growers must follow the same rules as any other with an agriculture business or farm. In other words, farm taxes will apply to them. A Schedule F income tax form will have to be filed, and farmers are also responsible for paying federal employers tax and New Hampshire state taxes. It is also possible you could qualify for a tax break. It is recommended to seek professional help when finding your way through the tax requirements of a farmer.
Farmers in New Hampshire would do well to follow the best practices as outlined by the state. This includes how the hemp plants are fertilized, how to lessen your environmental impact as a farmer, how to compost, and so on.
Financial requirements
The financial requirements of your hemp growing operation generally depend on how large you plan to go. If you are planning on buying many acres of land, for example, you are going to need a lot more money to pay for some really large up-front costs. Of course, the more money you put in, the more money you will come away with. Be sure to do the proper research to see how you can legally sell your product, how much it is selling for these days, and what your operating costs will look like. Hire a professional if you are unsure, or ask those who are already in the market.
Links to consulting companies that can help open a cannabis growing operation in New Hampshire
Links – Image powered by Yourdigitalresource.com
Looking to start a marijuana growing operation in New Hampshire? The consulting companies listed below provide a wide range of services from helping with state licensing requirements and applications to running and stocking your business.
- Canna Advisors
http://thinkcanna.com/ - DispensaryPermits.com
http://dispensarypermits.com/ - GreenZipp
https://greenzipp.com/pages/states - Medicine Man Technologies
http://www.medicinemantechnologies.com/ - Green Rush Consulting
http://greenrushconsulting.com/open-a-dispensary/ - Quantum 9 Inc.
https://quantum9.net/portfolio/cannabis-consulting-services// - Comprehensive Cannabis Consulting
https://www.3ccannabis.com/
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