Tuesday, April 1, 2014

Medical Marijuana in Nevada goes live today!

While in some counties, it's still a long way off to be able to purchase from a dispensary, the state's legislation allowing medical marijuana is now in effect.  While dispensaries are still several months away from being opened, the fact remains that as of today, such operations are legal in Nevada.

The interesting part of this legislation is that the legislation calls for a system of taxes to be implemented.  The wholesale from growers to dispensaries will be taxed (% at this time is unknown).  The purchase of medicine by patients at a dispensary will also be taxed (2%, as well as state sales tax).  No other state with a legal medical marijuana program taxes its patients (although Massachusetts plans on doing so, if my memory serves me correctly), and in states with legal recreational marijuana, citizens with medical marijuana cards don't even have to pay state sales tax, let alone a flat tax just because they're buying marijuana.

Fascinating legislation, however.

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