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.
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.