What's the latest on marijuana sales? Has any decision been made about when the dispensaries can open their doors to everyone?
Yes, the sale of marijuana to the public is scheduled to begin on July 1.
Last month (May 8), the Nevada Department of Taxation approved temporary regulations expected to jump start retail reefer sales.
Currently, it's legal to possess pot, but not to buy it, so this "early-start" program makes pot available until permanent regulations are put into place no later than January 1, 2018.
If the wacky weed does become available for sale to the general public on July 1, it'll be the fastest turnaround time of any state that's legalized it so far, eight months. Governor Brian Sandoval has been pushing for sales in order to begin collecting taxes on the estimated $550 million annual sales of recreational pot.
But several details need to be worked out before sales can begin.
The big question is will Nevada be a one-stream or two-stream inventory state. In other words, will the same products be available to recreational and medical buyers, the way it works in Oregon? Or will there be two streams, with a different inventory for medical-marijuana patients, the way it's done in Colorado. In Colorado, plants are tagged for one or the other market at the beginning of the grow; this is done, we're told, so that medical marijuana inventories aren't depleted by recreational buyers, as medical-marijuana buyers pay a lower sales tax on their purchases.
The tax-rate (or rates) question gets a little complicated, but so far, it looks like there'll be two different temporary tax rates, though the marijuana industry would prefer only one.
Other marijuana-related bills being considered by the Nevada Legislature address packaging requirements, local taxes and fees, and industry regulations.
