Nevada Running Out Of Marijuana, Statement Of Emergency Declared

by Wade Massey July 12, 2017, 0:17
Nevada Running Out Of Marijuana, Statement Of Emergency Declared

Fox News is reporting that the Nevada Tax Commission is concerned many stores legally selling recreational marijuana are running critically low on stock.

Nevada residents voted in November 2016 to legalize recreational marijuana sales, and lawmakers and regulators spent the next few months crafting the rules of how and where this could happen and how the industry would be taxed. Products were sold so rapidly that some cultivators literally ran out of plants and had to wait for another harvest to deliver weed items to dispensaries.

The part that is slowing down the sales is the distributors.

Currently, the Nevada Department of Taxation says that there are 47 retail marijuana stores that are licensed to sell recreational marijuana across the state.

Dispensaries in the state celebrated the change by opening their stores at midnight the day the sales became legal, expecting large crowds in the stores and even setting off fireworks.

The law just went into effect on July 1 and consumers have been lining up around the clock for access to the freshly legalized intoxicant.

So, since the state said that dispensaries have to receive product from licensed distributors but has not issued any licenses yet, they are hoping this new regulation will pass and get new distribution licenses out there. What kind of shortage qualifies for a declaration of emergency in the great state of Nevada?

While medical marijuana is legal in many U.S. states, recreational weed is legal only in Colorado, Washington, Oregon, and Alaska. Let's call the total tax take about 32 percent of legal recreational marijuana sales. Department of Taxation spokesperson Stephanie Klapstein expressed as much in an email issued Friday.

"The business owners in this industry have invested hundreds of millions of dollars to build facilities across the state", reads the statement.

"Without the ability to make a sufficiency determination, the Department cannot license other marijuana distributor applicants and, therefore, no marijuana or marijuana product can be transferred to a retail store", the department wrote. These businesses have recently hired and trained thousands of additional employees to meet the increased demand of adult-use. Medical marijuana distributors now can not provide recreational marijuana to dispensaries, but if the emergency regulation is adopted, Segerblom said, that will be "fixed in a second". "A halt in this market will lead to a hole in the state's school budget", the department said in its statement.

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