The state of Nevada’s Cannabis Compliance Board has issued stricter policies for cannabis companies with late taxes and licensing fees.
From now on, regulators will notify companies immediately if they had missed a deadline and will terminate access to the Metric database until taxes and fees are all paid.
Around 560 of the state’s over 700 cannabis licenses were due for license renewal by June 30th however 11 licensees with 22 total licenses had not submitted renewal paperwork until last month.
Executive Director Tyley Klimas had said at an August 25th meeting 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.
One licensee had then surrendered its cannabis distribution license, the others paid their license renewal fees.
At the meeting Klimas had said 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, reported the Nevada Independent.
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.
