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Nevada continues to finalize marijuana tax regulations

Reported by: Gerard Ramalho
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Updated: 3/06/2014 8:50 am
LAS VEGAS (KSNV & MyNews3) -- Leaders in Henderson, North Las Vegas, and Boulder City have all decided to take a pass on dispensaries for now.

The state continues to iron out its end of this new law, including how medical marijuana will be taxed and regulated.

The tax percentage is already set, but how to collect and regulate the taxes has yet to be determined.

On Monday, the Department of Taxation will hold a public hearing to adopt tax regulations for medical marijuana. It's the next big step in making medical marijuana dispensaries a reality for Nevadans.

We know medical marijuana will soon be available in at least some Nevada jurisdictions.

Costs, of course, will vary depending on the type and form. The 2013, legislature approved a two percent excise tax at all stages of a sale.

State leaders have designated 75 percent of the taxable proceeds to go toward Nevada schools, with the remaining 25 percent going to the state's health and human services department for administrative costs.

Procedures for refunds or credit claims for over-payment of medical marijuana taxes have not yet been determined. 

State leaders may or may not take action on the proposed regulation this coming Monday.

They are, however, looking for public input. If you're here in southern Nevada and would like to take part, you can join the video conference at the Grant Sawyer Building.



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