Nevada’s Cannabis Compliance Board is issuing stricter policies for cannabis companies that have past due taxes or licensing renewals, according to The Nevada Independent.
Roughly 560 of Nevada’s more than 700 cannabis licensees were due for license renewal by June 30, the news outlet reported, but 11 licensees with 22 total licenses did not submit renewal paperwork until July.
At an Aug. 25 board meeting, Executive Director Tyley Klimas said that the Cannabis Compliance Board did not renew the expired licenses, but instead sent correspondence indicating that the licensees METRC access would be discontinued, according to The Nevada Independent. While one licensee then surrendered its cannabis distribution license, the others paid their license renewal fees.
Klimas also indicated at the meeting that 18 cannabis licensees with 48 total licenses had past due tax debts ranging from $500 to $4 million that dated back to March 2019, the news outlet reported. The board contacted the companies and indicated that it would be severing their METRC access, as well, and all 18 licensees have since paid their taxes or are in the process or establishing payment plans with the Nevada Department of Taxation, according to The Nevada Independent.
Moving forward, the Cannabis Compliance Board plans to notify businesses immediately if they miss a deadline and will terminate METRC access until taxes and fees are paid, the news outlet reported.