Nevada

Market Map

Nevada
Cannabis Market

Nevada Cannabis Market At-A-Glance

Overall Rating: B

Nevada’s adult-use market has been on the rise since legalization in 2018. The distribution of licenses is strict compared to other legalized states. The COVID-19 restrictions in Nevada were some of the most extreme in the nation, causing cannabis sales to decline. Now that they are lifted, Nevada sales on the rise again.

Medical Use: Yes

Adult Use: Yes

Market Potential

Expected to increase post COVID-19 restrictions. The licensing distribution has very intricate and lengthy laws.

Licensing

A+

No caps for cultivation, manufacturers, testing labs. Dispensary licenses are capped.

Competition

5/16 counties in Nevada allow cannabis operations. Each area has limits on the amount of licenses allowed per county.

Tax/Regulatory Structure

A+

1 excise tax per vertical.

Nevada Cannabis Details

Population (Rank)

3,008,000

Size/Density

28 sq. miles

Medical Cannabis?

Yes

2016

Adult-Use Cannabis?

Yes

2018

2020 Medical Sales

2022 Projected Medical Sales

$52,000,000

$38,000,000

-27%

2022 Adult Use Sales

2022 Projected Adult Use Sales

$317,000,000

$615,000,000

+97%

Regulatory Agency

The Nevada Cannabis Compliance Board

https://ccb.nv.gov

# of Dispensaries (allowed/issued)

# of Cultivators (allowed/issued)

No limit

# of Manufacturers (allowed/issued)

No limit

# of Testing Labs (allowed/issued)

No limit 10

Vertical Integration?

Allowed at state level, varies by locality

Residency Requirements?

None

Social Equity?

Yes, but on a jurisdictional/city level

Cannabis Taxes

Combined Tax Rate

~15% for Adult-Use

Excise Tax

15% wholesale, 10% retail

Retail Sales Tax

None

Local Sales Tax

None

State Sales Tax

4.5% (MMJ is only subject to state tax)

Cultivation Tax

None

Licensing Fees (per year)
^{*Varies based on gross revenue}

Initial Medical Marijuana Dispensary Registration Certificate

$30,000

Medical Marijuana Dispensary Renewal

$5,000

Initial Medical Marijuana Cultivation Registration Certificate

$3,000

Medical Marijuana Cultivation Renewal

$1,000

Initial Medical Marijuana infused-products production Facility Registration Certificate

$3,000

Initial Medical Marijuana Independent Testing laboratory Registration Certificate

$5,000

Medical Marijuana Independent Testing laboratory Certificate Renewal

$3,000

Distributor License Fee

$15,000

Application Fees

Medical Marijuana Establishment Registration Certificate Application

$5,000 + actual costs from processing application

09/09/2021

Market Map

Nevada Cannabis Market At-A-Glance

Nevada Cannabis Details

Cannabis Taxes

Licensing Fees (per year) *Varies based on gross revenue

Application Fees

Licensing Fees (per year)
^{*Varies based on gross revenue}