Today, the Nevada Cannabis Compliance Board (CCB) issued six prospective licenses for cannabis consumption lounges reserved for social equity applicants.
(Photo credit: GreenNV.com).
According to a press release sent today by the CCB, the applications were selected using random number generator software, which can be viewed here. This comes after an internal audit found that 6 previously selected applicants failed to meet the residency requirement established by the bright-line criteria and were ineligible to proceed.
In July, the CCB contacted 8 previously undrawn applicants to determine if they wished to be entered into the random number generator selection event. All 8 applicants opted in. Winners of the lottery were Kora Cannabis Lounge LLP, Nevada Consumption Lounge LLP, and four others.
The CCB says they are in the process of returning the $2,500 application fee to all social equity applicants who are not proceeding in the licensing process to mitigate financial burden.
In Nevada, marijuana was legalized in 2016, allowing those 21 and older are allowed to possess up to one ounce of marijuana and up to 3.5 grams of marijuana concentrates. Licensed marijuana retail outlets opened the following year in certain cities (localities were given the option to opt out).
Nevada has a wholesale marijuana excise tax of 15% on both medical and recreational sales, and an additional 10% retail excise tax that applies only to recreational marijuana.
