United States: Nevada to sell recreational cannabis faster than expected
In the state of Nevada, the Tax Commission voted last Monday to authorize existing medical cannabis dispensaries to sell cannabis for recreational use. They will be able to sell their products for recreational purposes starting on the 1ster July 2017. To do so, cannabis dispensaries will be required to hold a state license. Consumers, for their part, will be able to purchase up to one ounce of cannabis, or 28 grams.
The state of Nevada legalized medical cannabis in 2015. Nevada’s regulatory agency, The Department of Taxation, is expected to approve license applications for existing medical cannabis dispensaries within the next few days.
Supporters of cannabis legalization in the United States were concerned about the decisions made during Donald Trump’s term in office. Indeed, the U.S. government—and in particular Jeff Sessions, the nation’s attorney general, who was strongly opposed to legalization—views Recreational Cannabis: A Bad Reputation. However, he recently stated that the laws legalizing cannabis during Barack Obama’s term in office were «not such a bad measure after all.».
Nevada and the Taxation of Recreational Cannabis
Last January, Governor Brian Sandoval, a member of the Republican Party, suggested that the state of Nevada impose a 10% sales tax on recreational cannabis. This tax is expected to generate $70 million over two years. Democratic members of the Senate want to impose a 12% sales tax on cannabis, of which 10% would be used to fund public schools. The remaining 2% will fund programs to help people struggling with addiction.
Julia Ratti, a Democratic state senator from Sparks, Nevada, said, ’It is important to have a streamlined and efficient tax system that takes medical and recreational cannabis into account in order to implement it in the real world.«.
Voters in the State of Nevada decided in November 2016 that recreational cannabis will be available for sale to those 21 and older. The tax authority is giving itself time to test these regulations before permanently legalizing recreational cannabis by January 1er January 2018.
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