On Monday, Nevada’s Tax Commission approved their temporary regulations, potentially cultivating an “early start” for the state’s adult-use marijuana sales. Rushed through the regulatory process by the Department of Taxation, recreational sales in Nevada are anticipated to begin before the 4th of July.
According to the Las Vegas review Journal, the program is projected to generate more than $70 million for the state over the first two years. Deonne Contine, Director of Nevada’s Department of Taxation, views the new revenue stream as the most viable way of meeting Gov. Sandoval’s proposed budget for 2018.
“If we don’t adopt the regulations, we will not have a temporary program. If we don’t have a temporary program, we will not have the revenue that’s included in the governor’s budget.”
The nine-member Tax Commission passed regulations allowing medical marijuana dispensaries that are currently operational and in good standing with their local municipality and the state to apply for Nevada’s early start program.
Nevada Marijuana Application Fees
Per the final draft of the proposed regulations, qualified applicants are required to pay a “one time,” nonrefundable application fee of $5,000, plus an additional licensing fee. Dependent on their role within Nevada’s recreational marijuana industry, cultivators and dispensaries will be required pay the following fees:
(1) $20,000 for a Retail Establishment
(2) $30,000 for a Cultivation Facility
(3) $10,000 for a Production/Manufacturing Facility
(4) $15,000 for a Testing Facility
(5) $15,000 for a Marijuana Distributor
Medical marijuana dispensaries in compliance with state and local regulations wanting to participate in the early start program must apply no later than May 31, 2017. Originally allocated a single application period, yesterday’s modified regulations allow for a second application period, to be announced later this year.
Ready to get things rolling as soon as possible, “Clark County is scheduled to begin licensing by July 1, and officials for the cities of Las Vegas and North Las Vegas said Monday both municipalities plan to do the same.”