WeedLex
Apr 18, 2017 12:20 PM

Nevada Companies May No Longer Have to Separate Medical and Recreational Weed

On April 11, the Nevada Legislature heard a bill, according to which marijuana manufacturers would be able to combine medical and recreational products. As of right now, they have to divide their products into two groups as taxes are different.

Nelson Araujo, D-Las Vegas, has introduced Assembly Bill 463, which would change the excise tax on medical cannabis products and establish it on the same level as for the recreational pot products.

The Department of Taxation has already set a 15-percent tax on the fair market value of recreational weed that will appear on the market later this year. According to the bill, the excise tax would be the same for both groups, but the final price for recreational products would be different as it would be taxed more.

Can Marijuana Taxes Solve Our Budget Problems?
Can Marijuana Taxes Solve Our Budget Problems?
People get so used to hearing about the impressive tax revenues that cannabis industry has brought to the local budgets of the states with legalized recreational weed, that it actually tricked some of them to thinking marijuana taxes can solve all the problems of their neighborhood.

The state of Colorado has two separate systems for tracking recreational and medical marijuana from seed to sale. However, Nevada legislators find that these systems only create additional workplaces. They believe that Colorado’s method of product separation is too difficult.

Moreover, the states that have already set up regulation practices of the marijuana industry advise to avoid this kind of system. At the same time, identical tax structures would work more efficiently and lighten the load put on medical patients.

Besides, the bill would also establish a 5-percent limit on the taxes that may be imposed on cannabis companies by local governments.

Nevada legalized the adult use of marijuana last year, and now, it is working on the regulation of the new industry. The state is going to open the first recreational pot shops by July 1, 2017.

What States Allow Recreational Marijuana Use in Public Places?
What States Allow Recreational Marijuana Use in Public Places?
Alaska has recently rejected an initiative that would allow the use of marijuana at retail pot stores. What states with recreational cannabis are more tolerant to the public consumption of weed? Here is a list of states that legalized the recreational use of marijuana and their positions toward pot use in public spaces.
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