Nevada lawmakers have given final approval to a regulatory structure to tax the cultivation and sale of recreational marijuana when the industry is up and running.
Senate Bill 487 – which the governor is expected to sign into law – levies a 10% tax on retail sales and 15% tax on marijuana growers. The tax also would apply to cannabis grown and sold for medical use. Medical marijuana currently is taxed at 2%.
The legislation approved late Sunday is projected to raise $70 million in state tax revenue over two years when recreational sales begin, but a