AB307
AN ACT relating to taxation; eliminating the excise taxes on wholesale sales of cannabis; increasing the amount of the excise tax on retail sales of cannabis and cannabis products; revising the manner in which the revenues from the excise tax on retail sales of cannabis and cannabis products must be distributed; and providing other matters properly relating thereto. Close title AN ACT relating to taxation; eliminating the excise taxes on wholesale sales of cannabis; increasing the amount of the excise tax on retail sales of cannabis and cannabis products; revising the manner in which the revenues from the excise tax on retail sales of cannabis and cannabis products must be distributed; and providing other matters properly relating thereto.
Introduction Date
Thursday, February 27, 2025
Primary Sponsor
?
Public exhibits
6
Support 1 · Opp 3 · Neutral 0
Auditor findings
0
recusal 0 · QPQ 0
AN ACT relating to taxation; eliminating the excise taxes on wholesale sales of cannabis; increasing the amount of the e
Existing law imposes an excise tax upon the first wholesale sale of cannabis by a medical cannabis cultivation facility or an adult-use cannabis cultivation facility to another cannabis establishment at the rate of 15 percent of: (1) the fair market value at wholesale for sales made to an affiliate of the medical cannabis cultivation facility or adult-use cannabis cultivation facility; or (2) the sales price of the cannabis, if the sale is made to a cannabis establishment that is not an affiliate of the medical cannabis cultivation facility or adult-use cannabis cultivation facility. Existing law requires the revenues collected from those excise taxes to be distributed: (1) to the Cannabis Compliance Board and to local governments in an amount determined to be necessary by the Board to pay the costs of the Board and local governments in carrying out the provisions of existing law governing the medical and adult use of cannabis; and (2) if any money remains, to the State Treasurer to be deposited to the credit of the State Education Fund. (NRS 372A.290) Section 5 of this bill eliminates those excise taxes on wholesale sales of cannabis. Existing law imposes an excise tax on each retail sale of cannabis or cannabis products by an adult-use cannabis retail store or cannabis consumption lounge at the rate of 10 percent of the sales price of the cannabis or cannabis products. Under existing law, the revenues collected from that excise tax are required to be paid over as collected
NELIS exhibits (6 on file)
Support (1)
- Will Adler (Letter)
Opposition (3)
- Geoffrey Lawrence (Letter)
- Charles Watson (Letter)
- Brandon Wiegand — Jardin Cannabis (Letter)
Bill text + amendments: view on NELIS →