Nevada OKs tax schedule for rec cannabis, increases MMJ rates

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Nevada lawmakers have given final approval to a regulatory structure to tax the cultivation and sale of recreational marijuana when the industry is up and running.

Senate Bill 487 – which the governor is expected to sign into law – levies a 10% tax on retail sales and 15% tax on marijuana growers.┬áThe tax also would apply to cannabis grown and sold for medical use. Medical marijuana currently is taxed at 2%.

The legislation approved late Sunday is projected to raise $70 million in state tax revenue over two years when recreational sales begin, but a

Nevada OKs tax schedule for rec cannabis, increases MMJ rates is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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