• Home
  • MJNews @PRNewswire
  • CBDNews @BusinessWire
  • MJChannelOne
  • MJBA.net
  • MJHeadlineNews
  • Subscribe
  • Advertise
  • MJBA PR

MJNews Network

"The Voice of Legal Cannabis Since 2013"

  • Home
  • Business
  • MJNews By PRNewswire
  • CBDNews by BusinessWire
  • Legal
  • Events
  • BlPOC in Cannabis
You are here: Home / Politics / Nevada Estimating $529K to Cover Cost of Collecting New Medical Marijuana Tax

Nevada Estimating $529K to Cover Cost of Collecting New Medical Marijuana Tax

August 10, 2013 by MJ News Network 3 Comments

NEVADA: Nevada tax officials say the state will have to spend money before it can make money from a new tax on the sale of medical marijuana.

The Nevada Department of Taxation has requested $529,000 from a special legislative fund to cover the cost of collecting the dispensary excise tax that Gov. Brian Sandoval signed into law earlier this year. The tax goes into effect next year.

The state Board of Examiners, chaired by the Republican governor, is scheduled to consider the funding request on Tuesday in Carson City before it’s forwarded to the Legislature’s Interim Finance Committee on Aug. 29.

State officials have no estimate on the overall fiscal impact, but advocates of the new system say the tax could raise up to $30 million a year.

Nevada voters approved medical pot more than a decade ago, but the only legal way to get the drug has been for cardholders to grow it themselves.

The 2013 law that permits the dispensing of medical marijuana includes a provision that a 2 percent excise tax be imposed both on wholesale and retail sales.

The tax was added to the bill late in the session and did not include any money for the tax department to set up a process to collect it.

Sen. Tick Segerblom, D-Las Vegas, a key sponsor of the medical marijuana bill, said $529,226 seems “incredibly high” since it will be sometime in mid-2014 before the sales start.

Segerblom noted the department initially told the governor the collections would cost $2 million.

 

Read full article @ The Republic

Filed Under: Politics Tagged With: Carson City, medical marijuana, Nevada

About MJ News Network

Comments

  1. Paulpot says

    August 11, 2013 at 8:24 PM

    Taxes on things are discriminatory.
    All that is needed is a simple income tax like any individual or business already pays.
    Everyone should be taxed at the same rate and in the same way.
    Simple, easy to calculate income tax.

    Reply

Trackbacks

  1. MJ News Network | City Taking Six Months To Set Rules For Medical Marijuana says:
    September 18, 2013 at 5:01 PM

    […] marijuana is legal in Nevada, but people who use it aren’t allowed to buy the drug. They can grow a small amount for […]

    Reply
  2. Nevada’s Medical Marijuana Business At A Glance says:
    May 18, 2014 at 8:25 PM

    […] IS COMING: Under the law passed by the Nevada Legislature and signed by Gov. Brian Sandoval in 2013, the medical marijuana industry will include up to 66 dispensaries statewide to sell the […]

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Connect with Us!

  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Pinterest
  • RSS
  • Tumblr
  • Twitter
  • Vimeo
  • YouTube

Top Stories

New York Governor Hochul Announces Major Progress Toward Advancing Equity in Cannabis

Minority-Led Investment Team Chosen to Manage $200 Million Fund to Support Social Equity in Cannabis Industry Entity Headed by NBA Hall of Famer Chris Webber, Noted Entrepreneur Lavetta Willis, Financial Leader Suzanne Shank, and Former City Comptroller William Thompson Governor Also Announces Appointment of New York’s Cannabis Advisory Board Which Will Disburse Community Grants, Support Development of Read the full article…

Are You A Woman in Cannabis? CANNECTEDTV Wants to Share Your Story

The deadline for submissions is June 29th, 2022 ARIZONA:  The cannabis industry, much like other industries, has been historically dominated by men. 420MEDIA and CANNECTEDTV want to change that by giving women an outlet for their voices to be heard. “Chronicles Of Women In Cannabis” is a series for women to share their stories and Read the full article…

New York State Debuts Nation’s First Broadcast Cannabis Advertisement Focused on Social Equity

Public Service Advertisement Highlights Comprehensive Approach Being Taken by the State to Ensure Diversity in the New Industry Raises Awareness on Historical Disproportionate Enforcement as New York Builds Adult Use Industry Centered on Addressing Harms Caused by Prohibition   NEW YORK: The New York State Office of Cannabis Management (OCM) has released a public service Read the full article…

Colorado Department of Revenue Released Average Market Rates for Retail Marijuana Effective July 1, 2022

COLORADO: The Colorado Department of Revenue (CDOR) released the Average Market Rates (AMR) for retail marijuana effective July 1, 2022 until September 30, 2022. Two of the seven AMR categories increased this quarter, specifically bud allocated for extraction ($275) and immature plant ($12). Four of the seven rates decreased, including bud ($709), trim ($228), trim Read the full article…

Oregon Legislators, Law Enforcement, Licensees Tell OLCC “Illegal Cannabis Threatens All of Us”

Southern Oregon Hospitality and Wine Industry provide feedback OREGON:  Illegal marijuana activity has not only disrupted the legal cannabis industry, but it’s also jeopardizing southern Oregon’s wine industry, according to testimony the Oregon Liquor and Cannabis Commission (OLCC) heard this week. That was one of many issues that came to light during the Commission’s two-day Read the full article…

Are You A Woman in Cannabis? CANNECTEDTV Wants to Share Your Story

New York State Debuts Nation’s First Broadcast Cannabis Advertisement Focused on Social Equity

Colorado Department of Revenue Released Average Market Rates for Retail Marijuana Effective July 1, 2022

Tags

CA California Canada cannabis cannabis news CBD changing attitudes CO Colorado DC decriminalization dispensary District of Columbia end failed war on drugs end of failed war on drugs failed war on drugs Hemp I-502 legal cannabis legalization legal marijuana legal pot shop marijuana marijuana business medical cannabis medical marijuana mjlegal mjnews MJNews Network mjnewsnetwork.com mmj New York NORML NY OH Ohio OR Oregon politicians on pot recreational marijuana the business of cannabis the business of marijuana WA Washington WSLCB

Search By State:

  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

© Copyright 2014 MJBA Publishing · MJ News Network · All Rights Reserved ·