Indopedia All Things Marijuana
Earlier this month, the Nevada Tax Commission approved a measure that will allow medical marijuana dispensaries to acquire temporary licenses to sell recreational marijuana. Early sales begin on July 1st, giving dispensaries a little over a month to handle the additional paperwork needed to secure a chance at this lucrative opportunity.
“It’s great news for everybody,” Ben Sillitoe, CEO and co-founder of Las Vegas dispensary Oasis Cannabis, told Marijuana Business Daily.
The state Department of Taxation began accepting applications on May 15th, and will continue to accept them until the 31st. Only currently-licensed medical marijuana businesses that are operating “in good standing” are eligible to apply at this time. The licenses will be valid through next March. Fortunately for dispensaries, the licenses will not force retailers to create separate physical spaces for medical and recreational customers.
Applicants for the preliminary recreational sales must submit a nonrefundable $5,000 application fee along with a license fee that varies depending on the type of business. Growers must pay $30,000 for the temporary license, retailers must pay $20,000, testing…
