Visit Paybotic at MJBizCon 2021! 👉 Learn more.

State-Specific Dispensary Cannabis Regulations for Colorado

In the state of Colorado, retail marijuana licenses are issued and maintained by the Department of Revenue. Applicants must have two years of residency and pass various background checks. This includes a query of your credit history and criminal record.

Recreational sales are restricted to adults ages 21 and over. Anyone with a valid medical cannabis license can purchase from an authorized medical dispensary. Caregivers of the licensee can also make purchases on their behalf.

There is a 12.9% sales tax on cannabis. Dispensaries are also required to pay a 15% excise tax on recreational cannabis.

Licensing for dispensaries costs $4,500, which is due at the time of application. This amount is paid directly to the state. An additional $2,500 is paid to the local government. Renewal of your dispensary license will cost $1,800 annually.

If you are in need of further details on payment processing laws in the state of Colorado and how they can affect your cannabusiness, contact a Paybotic representative today for assistance.

How Paybotic Can Help with Cannabis Payment Processing in Colorado

If you want to achieve sustained success at your Colorado dispensary, then you need dynamic payment processing solutions like those provided by Paybotic. Our financial experts offer customized business plans for every client.

Our services include:

Our full suite of services can streamline every aspect of your financial structure. We not only provide payment processing services, but can also oversee your payroll and bookkeeping. We provide detailed monthly reporting so that you can stay in compliance with state and local guidelines.

The Premier Colorado ISO Partner

At Paybotic, we believe in doing things better than our competitors. Some of the highlights of working with us are:

Unlike traditional financial institutions, we set you up for sustained success with our great rates and easy access to funds. We are upfront about all pricing and can get many clients started with no upfront costs.

Our experts respond to all requests fast. We process most applications within 48 hours and have a 99.9% approval rating. You can easily apply online by inputting a few key details about your business.

Do not compromise the long-term success of your business by partnering with an unreliable payment processor. Contact Paybotic at the link below to begin experiencing the difference of working with our team!

Ready To Get Started?