Lawmakers in Las Vegas Nevada have at last given their stamp of approval to a governing structure to tax the sale and growth of recreational marijuana. This substance became legal in Nevada at the beginning of 2017.
On June 5, 2017, the Assembly forwarded Senate Bill 487 to Governor Brian Sandoval. The bill had passed with 32 votes by the Democrats while all nine Republicans voted against it. The Senate approved it late on Sunday, June 4. It is anticipated that the Republican governor will sign it into law.
Projections indicate that the legal sales of recreational marijuana will bring in state tax revenue of $70 million over two years. Most of the funds would benefit education, with a small portion reserved to cover local administrative expenses in regards to licensing the operations.
This new regulation imposes a 15 percent tax on marijuana cultivators and a 10 percent levy on retail sales. These tariffs would apply to pot cultivated and sold for recreational as well as medicinal use. The current tax for medical marijuana is 2 percent.
All the legal particulars have to be implanted statewide by January 1, 2018. However, the Nevada Department of Taxation is presently working on special regulations. These would permit existing medical recreational dispensary Las Vegas to start selling marijuana for recreational use as early as July 1.
The state representatives have also given their final approval to a bill that was created to help keep this substance out of the hands of children. This measure would make it illegal to label or package marijuana in ways that kids might find interesting.
Senate Bill 344 disallows the use of action figures, mascots or cartoons to market this substance. It also outlaws the use of animals or fruits on labels and prohibits the products to look like lollipops, candy or ice cream. The regulation necessitates labels to display “keep out of the reach of children” and “this is a marijuana product.” It also mandates a warning that intoxication might be delayed for up to two hours following consumption as well as a disclosure in regards to the product’s potency.
Furthermore, marijuana vending machines would be prohibited in accordance with Assembly Bill 422.