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Home 🌿 Recreational Marijuana News 🌿 Nevada Dept. of Taxation reveals preliminary regulations for recreational marijuana 🌿Nevada Dept. of Taxation reveals preliminary regulations for recreational marijuana
Recreational marijuana has been legal to use in Nevada for four months now, but there's still nowhere for adults to legally buy pot.
Nevada's first recreational marijuana dispensaries are expected to open on July 1, but questions remain about what regulations those business will be subject to. Lawmakers met with Director of the Nevada Department of Taxation Deonne Contine on Wednesday night to gain some clarity.
She said, "The department has drafted proposed temporary regulations to allow for Early Start."
The Early Start program will allow current medical marijuana businesses to be the first to participate in the recreational pot industry.
Will Adler is the Executive Director of the Sierra Cannabis Coalition. He said, "Medical marijuana cultivations, productions, dispensaries, and labs will be the early start recreational vessel because it would be too hard to start a whole new license process. Instead, we can just use what's there and build on it."
Application fees for the Early Start program range from $20,000 to $30,000. That revenue will help the Department of Taxation jumpstart the recreational marijuana program.
Adler said, "Those fees are really the start-up capital to make sure the state isn't opening an unfunded program-- that it has it's funding day one."
The Department of Taxation expects to open up applications on May 15. They are due by May 31.
Lawmakers met with Deonne Contine on Wednesday night to learn about proposed regulations. Officials said some of the bills being discussed this legislative session could affect recreational marijuana laws.
Adler said, "It's not so much what Taxation is doing or what local governments are doing, but if something changes at the legislative level, that needs to be adopted."
The Early Start program is only temporary. It will last 6 months. The Department of Taxation has until the end of the year to implement permanent regulations.
Contine said, "For the first 18 months that we issue those licenses, they can only be issued to medical marijuana establishments."
Officials said there should be plenty of licenses left for people outside of the current medical marijuana industry to apply for, but they'll have to wait about two years.
"At the end of the day," Adler said, "the new licenses are twice the number of current medical dispensaries."
The Nevada Tax Commission will vote on Monday, May 8 to potentially finalize temporary regulations for that early start program.
Stay with News 4/Fox 11 for updates about Nevada's recreational marijuana industry.
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