SB41

Existing law imposes an excise tax on the wholesale and retail sale of cannabis by certain licensed cannabis establishments. (NRS 372A.290) Existing law also requires any person engaged in the business of selling at retail tangible personal property, including, without limitation, adult-use cannabis retail stores and cannabis consumption lounges, to register or file an application for a permit for each place of business from the Department of Taxation, which is referred to as a sales tax permit. (NRS 360.5971) Sections 3-5 of this bill define certain terms relating to the taxation of the sale of cannabis. Section 6 of this bill: (1) requires that, in addition to any other permit required by law, including, without limitation, a sales tax permit, every person who desires to engage in the sale of cannabis or cannabis products must, before obtaining a license from the Cannabis Compliance Board, apply for and obtain a cannabis tax permit issued by the Department for each place of business; and (2) establishes requirements for the application. Section 15 of this bill make this requirement applicable beginning on January 1, 2027, and section 14 of this bill establishes the manner in which persons engaging in the business of selling cannabis or cannabis products before that date are required to comply with the requirement to obtain a cannabis tax permit before that date. Section 7 of this bill requires the Department, not later than 15 days after receiving an application, to grant a