Nevada Tax Commission Proposes Sales, Excise Tax Regulations on Medical, Adult-Use Cannabis Products

The Nevada Tax Commission May 16 proposed regulations concerning medical and adult-use cannabis products for sales and use and excise tax purposes. The proposal includes measures to: 1) provide definitions for terms relating to cannabis sales; 2) specify that cannabis products obtained by a retail cannabis consumption lounge from an adult-use cannabis retail store aren’t subject to excise tax and shouldn’t be included in the taxable measure on the tax return until the lounge sells the products to a consumer; 3) provide that sales of cannabis and cannabis products to a consumer by a cannabis sales facility or cannabis consumption …