Medical marijuana dispensaries in Nevada will be able to start selling recreational cannabis as soon as July 1, a move that will provide a huge boost to the state’s MMJ industry and create tens of millions of dollars in sales this year.
On Monday, the Nevada Tax Commission approved a proposal that allows existing MMJ dispensaries in good standing with the state to begin sales this summer, about six months earlier than planned.
Most of the state’s 190 licensed medical cannabis dispensaries, cultivation sites and processing businesses are currently in good standing – defined as going at least six months without having their permit suspended – according to the Las Vegas Sun.
Proponents hope the “early start” program will help medical cannabis firms recoup the substantial amount of money they spent to launch and remain operational, while also allowing the state to start collecting tax dollars tied to rec sales, the Nevada Independent reported.
Temporary recreational licenses given to dispensaries will expire on Jan. 1, 2018, when the full adult-use program is expected to launch.
Oregon previously implemented a similar program after legalizing recreational marijuana, permitting MMJ businesses to sell adult-use products earlier than planned.