A Nevada marijuana company might lose four business licenses because it hasn’t paid its state tax bills.
According to the Las Vegas Review-Journal, Washoe County-based NNV Operations I, which does business as Silver State Trading, stands to lose its medical and adult-use cannabis permits for cultivation and production if its owners don’t finish paying off more than the half-million dollars in taxes the company owes the state.
A complaint filed by the state Cannabis Compliance Board (CCB) asserts that the company owes the state $528,000, which includes delinquent taxes, penalties and interest, the newspaper reported.
Several checks from Silver State Trading to the state have bounced because of insufficient funds, according to the CCB complaint, and for more than two years, the company has filed late tax returns with either partial or no tax payments.
Key insights to inform decisions: MJBizFactbook
Say hello to marijuana business data, curated by the editors of MJBizDaily to help cannabis industry leaders make informed decisions.
- U.S. marijuana industry financials
- Licensing, funding and investment trends
- State-by-state guide to regulations, taxes and opportunities
- Insights for business and investment strategy
Though two owners of the company agreed to a payment plan with the state in June, checks began bouncing in August, and now the CCB has requested that the company’s licenses be rescinded and a civil fine levied.
The state attorney general’s office has recommended a fine of up to $220,000.
