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Bill > AB307

NV AB307

NV AB307
Revises provisions governing the taxation of sales of cannabis and cannabis products. (BDR 32-149)

summary

Introduced
02/27/2025
In Committee
04/15/2025
Crossed Over
Passed
Dead
06/03/2025

Introduced Session

83rd Legislature (2025)

Bill Summary

AN ACT relating to taxation; eliminating the excise taxes on wholesale sales of cannabis; increasing the amount of the excise tax on retail sales of cannabis and cannabis products; revising the manner in which the revenues from the excise tax on retail sales of cannabis and cannabis products must be distributed; and providing other matters properly relating thereto.

AI Summary

This bill revises the taxation of cannabis sales in Nevada by eliminating the existing 15% excise tax on wholesale cannabis sales and increasing the retail sales excise tax from 10% to 14.25%. Under the new law, the revenues from the retail excise tax will first be used to fund the Cannabis Compliance Board's operational costs, with any remaining funds deposited into the State Education Fund. Previously, the wholesale tax revenues were partially distributed to local governments and the Cannabis Compliance Board, but this provision has been removed. The bill also updates various related statutes to reflect these changes, such as removing references to wholesale tax calculations and adjusting definitions related to cannabis taxation. These modifications aim to streamline the cannabis tax structure and ensure continued funding for education while supporting regulatory oversight of the cannabis industry. The changes will take effect on July 1, 2025, giving businesses and government agencies time to prepare for the new tax framework.

Committee Categories

Budget and Finance

Sponsors (3)

Last Action

(No further action taken.) (on 06/03/2025)

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