AB 307
Revises provisions governing the taxation of sales of cannabis and cannabis products. (BDR 32-149)
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- Passed Assembly
- Passed Senate
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- Became Law
Bill overview
This bill significantly alters the taxation of cannabis sales in Nevada. It eliminates excise taxes on wholesale cannabis sales by cultivation facilities, while increasing the excise tax on retail cannabis sales from 10% to 14.25%. The revenue generated from the increased retail excise tax will be directed to the Cannabis Compliance Board and the State Education Fund. The bill also repeals provisions requiring the Department of Taxation to determine the fair market value of wholesale cannabis, rendering those procedures obsolete.
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