Nevada Governor Signs Law Defining Wholesale of Cannabis for Excise Taxes – Bloomberg Tax

The Nevada Governor June 3 signed a law adding the definition of a wholesale sale to excise tax provisions for adult-use cannabis cultivation facilities. The law includes a measure adding the definition, which clarifies that the term doesn’t include a transfer of cannabis by a facility to another facility when both the facilities share identical ownership. The law takes effect July 1. [/NVFINAL2021R1SB278///, enacted 06/03/21]

Reference: View Bill. View Legislative Information.

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