Virginia Real Estate & Cannabis Regulations & Applications
Cannabis Status: Opening
On April 7, 2021, Virginia became the first state in the South to begin the process of legalizing adult-use cannabis with the adoption of House Bill 2312 and Senate Bill 1406. Unlike some other states, Virginia has a slow rollout plan for beginning their cannabis market. Adult-use possession became legal on July 1st, 2021 along with limited personal cultivation.
Over the next three years the state will slowly roll out implementation regulations for the legal marketplace with an emphasis on social equity, public health and public safety. On July 1st, 2021 the Cannabis Control Authority was formed, which will adopt final state regulations following approval from the state’s General Assembly in 2022. If all plans stay on schedule, the state plans on beginning cannabis sales on January 1st, 2024.
Name: Virginia Population: 8.536 million Median Income: $74,222 Cannabis Uses: Cultivation, Manufacturing, Testing, Wholesaler, Retail
Virginia Cannabis Overview: The Cannabis Control Authority was recently formed on July 1st, 2021. The CCA will adopt final regulations for zoning and application processes in 2022 at the earliest with a target date of January 1st, 2024 for retail sales to begin in the state.
Excise tax: Cannabis will be taxed at the point of sale from a cultivator at these rates: $335 per pound of marijuana flower or mature plants $94 per pound of marijuana trim $1.50 per immature marijuana plant or seedling $0.30 per seed Sales tax: At the point of sale, a 10% sales tax is imposed
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Available Virginia Cannabis Business & Property Listings
Review our Virginia cannabis real estate for sale or lease below. We also have businesses in Virginia 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 Virginia.
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