Minnesota Becomes the 23rd State to Legalize Recreational Cannabis
- Jun 14, 2023
On May 30, 2023, Minnesota Governor Tim Walz signed a bill making Minnesota the 23rd state to legalize adult use recreational cannabis. Effective August 1, 2023 cultivation, use and possession of cannabis is legal within the state of Minnesota for individuals aged 21 and older, with some restrictions.
For example, under the new law, Minnesotans can have up to two pounds of cannabis in their homes and transport up to two ounces. Also, Minnesotans can grow up to eight flowering plants at their home without a state license. However, it would still be illegal for Minnesotans to sell cannabis without a state license.
Despite the new law taking effect August 1, 2023, it might take up to 18 months before a Minnesotan can go into a legal dispensary and purchase the product from a legal seller.
Minnesota has twelve different cannabis licenses; for each the licensee will need to be at least 21 years old and pay the license fee which start at $10,000. The applications will be reviewed by state officials who will consider the proposed business plans, security and experience of the proposed license holder.
Minnesota’s law permits the sale of hemp-derived cannabinoids such as delta-8 THC, which has been banned by 14 other states.
In addition, the new Minnesota law automatically expunges non-felony offenses for cannabis and establishes a system for review of more serious cannabis offenses.
Delaware was the 22nd state to legalize, followed, now, by Minnesota. Who will be 24th? Is Florida, Ohio or Pennsylvania next? Time will tell.
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Eric Altstadter CPA is an Audit Partner and Chair of the firm's Cannabis and Hemp practice with over 30 years of experience working with public companies and privately held businesses
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