Nev. Admin. Code § 372A.Sec. 12

Current through December 31, 2024

Section 372A.Sec. 12 - NEW

Any cannabis or adult-use cannabis product purchased by an independent cannabis consumption lounge from an adult-use cannabis retail store with which the independent cannabis consumption lounge has entered into a contract pursuant to NRS 678D.475 is not subject to the excise tax on cannabis and must not be included in the measure of the tax on a return required by NAC 372A.160 until the independent cannabis consumption lounge:

1. For a single-use cannabis product, sells the single-use cannabis product to a customer of the lounge; or

2. Uses the cannabis or adult-use cannabis product to prepare a ready-to-consume cannabis product and sells the ready-to-consume cannabis product to a customer of the lounge.

Nev. Admin. Code § 372A.Sec. 12

Added to NAC by Tax Comm'n by R052-23A, eff. 12/19/2024

NRS 360.090, 372A.050