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New Mexico Real Estate & Cannabis Regulations

Cannabis Status: Pending, Sales begin April 1, 2022

Less than 24 hours after New York officially legalized commercial cannabis, the state of New Mexico passed an adult-use cannabis legalization bill through the State’s Senate and House of Representatives and has been signed into law by the Governor. In order to support entrepreneurs with small amounts of capital, New Mexico will be allowing a small microbusinesses license type, able to grow up to 200 plants and process and sell cannabis products all under a single license.

Population: 2.097 million
Median Income: $49,754
Cannabis Uses: Manufacturer, Producer, Research Laboratory, Testing Laboratory, Vertically Integrated Cannabis Establishment, Cannabis Producer Microbusiness, Integrated Cannabis Microbusiness
State Cannabis Overview: In April, 2021 Governor Michelle Lujan Grisham signed the states cannabis bill into law. Now the state’s new Cannabis Control Division will begin developing final rules and regulations for the licensing process. Final license rules would be due from the state by January 1, 2022, with licenses themselves issued no later than April 1.

View New Mexico Cannabis Real Estate Properties

New Mexico Cannabis & Commercial Real Estate Research

New Mexico Uses / Distance Requirement / Cap of Business

Uses: Manufacturer, Producer, Research Laboratory, Testing Laboratory, Vertically Integrated Cannabis Establishment, Cannabis Producer Microbusiness, Integrated Cannabis Microbusiness

Distance Requirements: TBD. Final regulatory and licensure will be centrally controlled by a new Cannabis Control Division. Unlike most other states, New Mexico will not allow municipalities to ban cannabis businesses in their cities. Municipalities could, however, use their local zoning authority to limit the number of retailers or their distance from schools, daycares or other cannabis businesses.

Caps: There are no set limits for the number of licenses that will be issued, however regulators could stop issuing new licenses if an advisory committee determines that “market equilibrium is deficient.

Tax Rate:

  • Medical marijuana: Dispensaries are required to pay a gross receipts tax, which varies across the state from 5.125% to 8.8125%
  • Adult use: Marijuana sales are subject to the “cannabis excise tax,” which begins at 12% and is supposed to increase to 18% by July 1, 2030.

New Mexico Market Analysis

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Trusted Cannabis Professionals from CREC Directory

View the CREC Directory for our personally vetted and highly recommended professional service providers.

Rair Capital, LLC.
A Lending Platform for Commercial Borrowers. Rair Capital’s commercial lending platform has the resources in plac […]
Type:
Cannabis Financing

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GreenSpacePro
Why Choose GreenSpacePro: Effective communication between cannabis operations is critical for success and complian […]
Type:
Cannabis Operational Management Software

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Law Office of Kim...
The Law Office of Kimberly R. Simms is a boutique law firm specializing in corporate business counseling and forma […]
Type:
Cannabis Attorneys

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AmeriCorp Interna...
National coverage available for cannabis protection to protect your dispensary, patients, and privacy. You can rel […]
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Cannabis Safety

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Ask us anything! Our compliance team will quickly improve your ability to safely execute cannabis business transactions or to evaluate your current operations.

CREC Technology Portal

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CREC Business Directory

Growing network of vetted cannabis professionals from attorneys to insurance to real estate agents. CREC Directory to be released soon!

Available New Mexico Cannabis Business & Property Listings

Review our New Mexico cannabis real estate for sale or lease below. We also have businesses in New Mexico state for sale with a cannabis license. Contact us for more information and sign up to be a buyer or a seller on our website to get started with your property in the state of New Mexico.

We can help you find a property in our network, even if not listed in our online inventory. Ask us how!

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