US (NV): Cannabis company accused of not paying state taxes

A cannabis cultivator and producer in Washoe County could lose its license after it avoided paying hundreds of thousands of dollars in taxes, according to a complaint filed by the Cannabis Compliance Board this week.

NNV Operations I which operates under the name Silver State Trading, had numerous unpaid or underpaid wholesale cannabis taxes to the Department of Taxation dating back to June 2019, according to the complaint filed by the board. The state collects a 15 percent wholesale cultivation and production tax on cannabis in the state.

The Nevada attorney general’s office, which prepared the complaint for the Compliance Board, recommended that the company’s four licenses — they hold medical and adult-use licenses for cultivation and production — be revoked as well as a $90,000 fine if the board deems the violations intentional, or $220,000 if unintentional.

The company paid no taxes for 11 of 12 months from June 2019 to May 2020. The company underpaid their taxes on the other month, according to the complaint. NNV also did not pay wholesale cannabis taxes for February, March, or April of this year.

Read the complete article at reviewjournal.com.


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