Nevada Tax Department Releases Form EXC-F069, Wholesale Cannabis Tax Return for Cultivation Facilities, With Instructions

The Nevada Department of Taxation Jan. 1 released Form EXC-F069, Wholesale Cannabis Tax Return for Cultivation Facilities, along with instructions, for excise tax purposes. The instructions include: 1) the first wholesale sale, in the state, of cannabis by a medical or adult-use cannabis cultivation facility to another cannabis establishment is subject to an excise tax rate of 15 percent of the fair market value at wholesale of the cannabis for a sale made to an affiliate of the cultivation facility, or the contracted sales price of the cannabis for a sale made to a cannabis establishment that isn’t an affiliate ...