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Legislature Weighs Different Tax Structures For Recreational Marijuana

Although Gov. Brian Sandoval strongly opposed the legalization of marijuana, he hopes his proposed excise tax on the drug can bring millions of dollars to the state’s education system.

Senate Bill 508 would place a 10 percent tax on marijuana and paraphernalia sold by licensed retail stores.

The bill was sent to the Senate Committee on Finance during a work session and is exempt from today’s committee passage deadline.   

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During his 2017 State of the State Address, the Governor said proceeds from this tax would go exclusively to schools.

But, a similar bill could raise the excise tax to 15 percent and allow revenue to go to medical and substance abuse services, along with education.