State-Specific Cannabis Dispensary Regulation for West Virginia
West Virginia’s cannabis dispensaries are regulated by the Office of Medical Cannabis, a subsect of the Department of Health and Human Services. It was established through SB 386 and is the sole regulator of the state’s cannabis industry. This entity handles all dispensary applications and both patient and physician registrations.
There are roughly 100 dispensary permit holders throughout West Virginia, with more expected in the future. The application window opens once per year and no new submissions are allowed once it closes. For dispensaries, the fees are as follows:
Application fee: $2,500
Registration fee: $10,000
Sales tax: 10% on sales from dispensaries to patients or caregivers
As always, anyone hoping to own a dispensary in West Virginia recognizes that they may be subject to federal laws regarding marijuana use and sales. If you would like additional clarification on how these laws affect payment processing, speak with a Paybotic representative for help.
How Paybotic Can Help with Cannabis Payment Processing in West Virginia
The cannabis industry’s financial barriers to entry turn many people away from opening a storefront. Since major banks are typically unwilling to work with these types of businesses, entrepreneurs must turn to alternative methods for financing their operations and managing their bank transactions.
Paybotic’s sales and banking systems are geared specifically to cannabis retailers. We offer services including:
eCommerce payment processing and online management
These and other solutions make it easy for businesses to process, track, and manage payments. We keep our processing fees low by charging a flat, monthly rate (rather than charging per transaction). After filling out an application, you should hear back from our team within 48 hours.