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Tax Commission Meets On Rules For Recreational Marijuana Business Licenses

The Nevada Tax Commission meets Monday to vote on a set of new, temporary regulations for recreational marijuana business licensing. 

The vote comes as legislators continue to debate the issue. 

Even though legalization was set in motion after a vote last November, marijuana still cannot be bought and sold for recreational purposes.  

If the rules are approved, recreational pot would be able to be sold as early as July — six months sooner than required by the ballot measure legalizing it.  

Regulations would allow businesses already licensed to sell medical marijuana to apply for early-start recreational licenses.  

From there, the state would levy a 15 percent excise tax, in addition to standard sales tax.  

Those figures are much higher than taxes on medical marijuana, which is subject to just a two percent tax at every phase of production.  

Nevada’s Department of Taxation is looking to have permanent regulations in place by the end of this year.