Nevada Cannabis Compliance Board Adopts Regulations on Cannabis, Associated Taxes

The Nevada Cannabis Compliance Board Aug. 5 adopted regulations providing for the organization, administration, and functions of the board and the Cannabis Advisory Commission for excise tax purposes. The rules include measures: 1) defining “excise tax on cannabis” and “taxpayer;" 2) specifying the disciplinary actions cannabis establishments face for failing to comply with the taxation and licensing requirements; and 3) explaining the applicability of provisions governing the excise tax on cannabis. The regulations took effect Aug. 5. [Nev. Cannabis Compliance Bd., Regs. Sections 1.000, 1.010, 1.020 et al., 08/05/20]

Reference: View Source Document.