Canna Business Services breaks down the application types for cannabis business licenses in New Jersey

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TRENTON, New Jersey, September 24, 2021 / PRNewswire / – Still thinking about investing in cannabis business opportunities New Jersey?
Canna Business Services has provided an insight into the two application types you can use to apply.

Overview:
Applicants can apply for any of the 6 license classes (although there are restrictions on how many an applicant or its owners can acquire when multiple licenses are issued). Once a class has been selected, applicants can apply for the license via a conditional license application or an annual license application. Both require that at least one owner a New Jersey Resident for at least 2 years (with bonus category for at least one owner with 5 or more years of residence). Certified minority, female, and / or disabled veteran owned businesses will not receive additional points, but will receive a priority rating. However, conditional requests are limited to those who meet some additional requirements, as detailed below.

Conditional license:
Uniquely, an applicant for a conditional license is limited to owners whose income is $ 200,000 or less as reported for the immediately preceding tax year (or $ 400,000 if submitted together). Individuals who qualify for a conditional license are required to identify their property, but are not required to control it when submitting the application. Should an applicant be approved for a conditional license, they have 120 days to secure ownership and complete a conditional license conversion application. This can be a good choice when you need to gain control of a property or need a new zoning. These applications are also given priority.

Annual license:
If you are below the income limit for a conditional license, you will need to complete an annual license application. To apply for this, you must have control of a properly divided property and provide evidence of community support. If you go this way, you do not have to apply using the conversion application in the second step.

Ultimately, you will need to submit extensive information, including detailed surgical plans and procedures. If your goals are entering the New Jersey Cannabis market or to learn about other government licensing options, contact Canna Business Services to make sure your questions are answered and you are equipped with the support you need.

SOURCE Canna Business Services

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