Katelyn Baker
Well-Known Member
Reno, Nev. - Nevadans voted to legalize recreational marijuana on Election Day. The law takes effect January 1, 2017; but that doesn't mean people will be able to walk into a dispensary and purchase marijuana on New Year's Day.
"Nevadans can legally start smoking, possessing, and having one ounce of marijuana on their person January 1;" but Will Adler, executive director of the Nevada Medical Marijuana Association, said many people in the Silver State are confused about when they'll be able to buy pot.
The Department of Taxation will oversee recreational marijuana in Nevada. Although the law is already written, department officials have one year, until January 2018, to decide how they will regulate the industry. The legislature is also set to discuss regulations for medical marijuana at next year's session.
Once they have rules in place, officials will open up applications for marijuana dispensaries, but Adler said he believes Nevadans could open up pot shops as soon as next summer.
Adler said, "speaking of the Department of Taxation and some other folks, they're going to try to accelerate that timeline, I feel, and I think the Nevada Legislature will as well because we don't want there to be any confusion or a gap in the timeline that says you can have it and use it now, but not have it anywhere for someone to buy it."
He said Nevada currently has one of the most strictly regulated medical marijuana programs in the nation and lawmakers will be able to use that program as a model when they draft regulations for recreational pot. "We already spent years regulating the medical process, why would we rework the wheel when we already have a great example in our state?"
Although the two programs may be similar, recreational marijuana will likely be more expensive than its medical counterpart because of a 15 percent excise tax. Recreational retailers will have to pay a 15 percent tax on the wholesale value of the pot products they purchase, which will likely be reflected in the price consumers pay at the register.
The money generated from the excise tax will go into a state account to be distributed to schools across the Silver State, but lawmakers will still have to decide how to allocate those funds.
Adler said, "it's a new revenue stream. When you have something new, you don't exactly know what to do with it day one, so depending on how much comes in, depending on how much there is, could see how it's allocated."
He also said many of the marijuana cultivation facilities in Nevada aren't using all of their square footage to grow cannabis plans, and many of those businesses are ready to expand their operations and ramp up production to meet the demand for recreational marijuana as soon as next year.
The laws for both medical and recreational marijuana state all pot products sold in Nevada must be grown and produced in the Silver State.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: How Soon Pot Shops Could Open After Nevadans Voted To Legalize Recreational Marijuana
Author: Olivia Degennaro
Contact: 775.322.4444
Photo Credit: Brennan Linsley
Website: News 4
"Nevadans can legally start smoking, possessing, and having one ounce of marijuana on their person January 1;" but Will Adler, executive director of the Nevada Medical Marijuana Association, said many people in the Silver State are confused about when they'll be able to buy pot.
The Department of Taxation will oversee recreational marijuana in Nevada. Although the law is already written, department officials have one year, until January 2018, to decide how they will regulate the industry. The legislature is also set to discuss regulations for medical marijuana at next year's session.
Once they have rules in place, officials will open up applications for marijuana dispensaries, but Adler said he believes Nevadans could open up pot shops as soon as next summer.
Adler said, "speaking of the Department of Taxation and some other folks, they're going to try to accelerate that timeline, I feel, and I think the Nevada Legislature will as well because we don't want there to be any confusion or a gap in the timeline that says you can have it and use it now, but not have it anywhere for someone to buy it."
He said Nevada currently has one of the most strictly regulated medical marijuana programs in the nation and lawmakers will be able to use that program as a model when they draft regulations for recreational pot. "We already spent years regulating the medical process, why would we rework the wheel when we already have a great example in our state?"
Although the two programs may be similar, recreational marijuana will likely be more expensive than its medical counterpart because of a 15 percent excise tax. Recreational retailers will have to pay a 15 percent tax on the wholesale value of the pot products they purchase, which will likely be reflected in the price consumers pay at the register.
The money generated from the excise tax will go into a state account to be distributed to schools across the Silver State, but lawmakers will still have to decide how to allocate those funds.
Adler said, "it's a new revenue stream. When you have something new, you don't exactly know what to do with it day one, so depending on how much comes in, depending on how much there is, could see how it's allocated."
He also said many of the marijuana cultivation facilities in Nevada aren't using all of their square footage to grow cannabis plans, and many of those businesses are ready to expand their operations and ramp up production to meet the demand for recreational marijuana as soon as next year.
The laws for both medical and recreational marijuana state all pot products sold in Nevada must be grown and produced in the Silver State.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: How Soon Pot Shops Could Open After Nevadans Voted To Legalize Recreational Marijuana
Author: Olivia Degennaro
Contact: 775.322.4444
Photo Credit: Brennan Linsley
Website: News 4
