Cannabis Surety BondsDiscover information about the Cannabis Bond here.
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Cannabis bonds are also known as medical marijuana bonds. There are two types of legislation that are included this group of bonds. Some states have legislation that include medical marijuana and recreations use of marijuana. It is very important to follow your state's legislation as these tend to change over time. Some states will become more ridgid and some will relax legislation.
Thus far, eight states have approved medical and recreational use. Those states are Alaska, California, Colorado, Maine, Massachusetts, Nevada, Oregon and Washington. The group of states that have legalized medical marijuana include Arizona, Arkansas, Connecticut, Delaware, Florida, Hawaii, Illinois, Maryland, Michigan, Minnesota, Montana, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Pennsylvania, Rhode Island, Texas and Vermont.
Medical Marijuana Dispensary Bond
These bonds may be required if a dispensary, cultivator, or nursery wishes to engage in the above activities.
Medical Marijuana Business Retail Licnese Bond.
This bond may be required for those engaged in the retail sale of medical marijuana. State or local agencies may require this bond to establish this business.
Retail Marijuana Excise Tax Bond.
State taxing agencies may require this bond for start up or existing companies engaged in this activity. This bond is like any other tax bond. It is a promise to pay the associated taxes to the appropriate agencies.
Medical Marijuana Retail Marijuana Performace Bond.
This bond may be required to ensure the faithful performance of duties by marijuana business owners, regardless if they are cultivators, dispensaries or retailers in the ethical and honest dealings concerning sale and distribution of medical and retail marijuana.
States that require bonds.
- Alaska - $10,000.00
- Arkansas - $200,000 - $1,000,000
- California - $5,000 - $25,000
- Colorado - $5,000
- Connecticut - $500,000 - $2,000,000
- Florida - $5,000,000
- Hawaii - $500,000
- Illinois - $50,000 - $200,000
- Maine - $500,000 - $1,100,000
- Nevada - $50,000 - $250,000
- Ohio - $150,000 - $1,500,000