Nevada lawmakers have introduced Assembly Bill 307, a measure that would significantly alter the taxation of marijuana sales in the state.
Filed yesterday by State Reps. Danielle Gallant (R), Lisa Cole (R), and Cecelia Gonzalez (D), the bill has been referred to the Committee on Revenue for further consideration.
The bill proposes eliminating the 15% excise tax on wholesale marijuana sales, which is currently levied on transactions between cultivation facilities and other licensed businesses. In turn, it would increase the excise tax on retail sales from 10% to 14.25%, applying to purchases made at dispensaries and consumption lounges.
Under the current system, wholesale excise tax revenue helps fund the Cannabis Compliance Board (CCB) and local governments, with remaining funds going to the State Education Fund. AB 307 would restructure this process by directing a portion of retail excise tax revenue to the CCB, ensuring regulatory costs are covered, while any surplus would continue to support the education fund.
If passed, the legislation would take effect on July 1, 2025.
