By Jason Kim: Two-time welterweight champion Antonio Margarito (38-6, 27 KO’s) is finally going to try and get his boxing license back after losing it a year ago after a plaster-like substance was found in his hand wraps before his fight with Shane Mosley in January 2009. Margarito, 32, had his boxing license revoked for one year by the California Athletic Commission.

Now, a year later, Margarito is planning on applying not to the California Commission, but to the Nevada Athletic Commission, according to Dan Rafael. It makes sense because that’s where Margarito will likely be fighting and not in California where the taxes are high. Margarito, who is promoted by Bob Arum of Top Rank, will be applying to get his boxing license back on Friday with the Nevada Athletic Commission.

If he’s successful, Margarito could be in line for a shot against World Boxing Organization welterweight champion Manny Pacquiao, a fighter from Arum’s Top Rank stable. Margarito has filled out the application to get his license back and it’s been given to the Commission, along with Margarito’s description of the episode pertaining to the hand wraps.

Margarito may have to explain himself to the commission and will have to have good enough answers if he wants to get his boxing license back. Arum, who has backed Margarito from day one, thinks that he’ll be able to get his license back.

A lot rides on whether Margarito can get his license back. If he does get it back, he could get a big money fight against either Miguel Cotto or Manny Pacquiao next. Most likely it will be Cotto he faces next and Pacquiao later on next year.

If not, then Margarito likely won’t fight either of them and will have to be satisfied, at least temporarily, with fighting only in Mexico. Margarito has fought once in the past year, beating Roberto Garcia by a 10 round decision in May. That fight took place in Mexico. Cotto isn’t interested in fighting Margarito in Mexico, so it’s vitally important that Margarito get his license back.

Margarito can also apply to the Texas commission if he doesn’t get his license from the Nevada Athletic Commission. One of them will eventually give him his license, but it would be better sooner rather than later for Margarito because he’s losing valuable time in his career.

He didn’t look nearly as good as he used to be in his recent fight against Garcia. If Margarito is never able to get his boxing license back, he will have to settle for fighting his fights in Mexico. Arum will likely be able to set up some big fights for him there, but probably never against fighters like Cotto and Pacquiao, unfortunately.