Latest / NRBC Compliance Brief / Vol. 1, Ed. 23 — Sun Sep 6: Nevada weighs cannabis tax overhaul, hemp beverage tax
Transcript
- This is the New Realm Compliance Brief, Volume One, Edition Twenty-Three, for Sunday, September Sixth. A quiet weekend for regulatory news, so today's update draws mainly on Friday's developments. The top story: Nevada's cannabis tax structure is under formal review. A subcommittee of the state's Cannabis Advisory Commission met Friday to vote on recommendations that would eliminate Nevada's fifteen percent wholesale excise tax on marijuana, raise the ten percent excise tax on retail sales, and, notably for the beverage business, impose a new excise tax on retail consumable hemp products. Any change must remain at least revenue neutral for the state education fund, which received about one hundred eight million dollars from the two taxes in fiscal year twenty twenty-four. Recommendations are due to a legislative committee by October fifth for possible action in Nevada's twenty twenty-seven session. In federal news, three pharmaceutical service companies, Fisher Clinical Services, Irvine Labs, and PCI Pharma Services, have applied to the Drug Enforcement Administration to import or manufacture marijuana, extracts and THC for clinical research. Federal Register notices are scheduled for September eighth, with a public comment window to follow. Around the states: Nebraska's Supreme Court unanimously upheld the state's two voter-approved medical cannabis laws, rejecting a signature challenge brought by a former state senator; the state's Medical Cannabis Commission meets September fourteenth as licensing work continues. And Michigan's Cannabis Regulatory Agency released an updated compliance best-practices guide for licensed businesses. On the radar: the federal ban on intoxicating hemp products takes effect December eleventh, with synthetic cannabinoids still set for November twelfth. New Mexico's cannabis trade association says it plans to refile its tracking-system challenge this week with documented damages. And possible Texas court dates on the state's total THC rules are September seventeenth and October eighth. Full details and source links are in today's email. This update is for general information only — it is not legal advice.