Nevada Tax Commission Approves Permanent Cannabis Regulations

NEVADA - The Nevada Tax Commission approved permanent regulations for Nevada's recreational marijuana market in a hearing with the Department of Taxation on Tuesday. The regulations must now be approved by the Legislative Commission before becoming law.

The regulations were unanimously approved by the eight member commission and will dictate how Nevada will proceed with permitting new establishments and governing the adult-use cannabis industry which has been legal since July 2017. Stephanie Klapstein, public information officer for the Department of Taxation, said that the application process for marijuana establishments will reopen whenever permanent regulations are put into place. The Department of Taxation oversees Nevada's adult-use cannabis market.

Earlier this month, US Attorney General rescinded previous guidelines for federal prosecutors to not prioritize prosecuting marijuana establishments that were complying with state laws.

"Since Nevada voters legalized adult-use marijuana in November 2016, the Department of Taxation stood up one of the most tightly regulated, model programs in the country, in alignment with Gov. Sandoval’s directive for a well-regulated, restricted, and respected industry. The regulatory scheme we put in place helps protect against diversion of marijuana to minors, provides health and safety protections for consumers, and gives us the enforcement teeth we need to make sure businesses within the industry comply with the rules. Following news this morning that the U.S. Department of Justice may change its approach to federal enforcement regarding marijuana, the Department of Taxation will continue in its regulatory capacity, working to ensure that public health and safety are protected, pending any further action by the Justice Department," the department said in response to Sessions' decision.

This is a developing story.

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