Indopedia All Things Marijuana
Nevada is nearing the expected July 1st start date for it’s newly passed recreational/adult-use marijuana program and regulations. Seemingly, cannabis advocates and consumers walked away from this year’s legislative session with more ups than downs, despite the social cannabis consumption bill not passing.
A recent article from RJG goes over many of the new regulations, including taxes, edibles, DUIs, and previous convictions.
Starting in July, all marijuana — both medical and recreational — will be taxed 15 percent at cultivation, and only recreational marijuana will be sold with a 10 percent sales tax.
Medical marijuana currently is taxed 2 percent at cultivation, 2 percent at production and 2 percent at sale.
“What’s important Is that you’re creating that delta between medical and recreational costs – it’s keeping the cost down for medical,” Sen. Julia Ratti, D-Sparks, who sponsored the tax bill.
Revenue collected from the cultivation will be funneled toward schools, and revenue from recreational marijuana sales tax will go towards the state’s rainy day fund.
“This is a brand new industry, we really don’t know (how much it will bring…
