Nevada Sells Out Of Legal Weed

Less than two weeks after sales of recreational marijuana kicked off in Nevada, stores are running out of pot to sell, according to the state’s Department of Taxation.

On Friday, Gov. Brian Sandoval endorsed the department’s call for a “statement of emergency,” which would allow for more licensed distributors.

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There were 50 Dispensaries in the state that have licenses to legally sell recreational marijuana. However those retailers do not have the legal right to re stock there own inventory. Only wholesalers of alcohol have the exclusive rights to move marijuana from growers to retailers in Nevada, as part of a temporary court order.

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Nevada is the only state with legal marijuana that has such an arrangement.

As of Friday, the Department of Taxation had issued zero distribution licenses to alcohol wholesalers, because of incomplete applications and zoning issues, the Reno Gazette-Journal reported.

Dispensaries started selling the marijuana they had in stock on July 1. Several establishments had expected to run out in the coming days.

A statement of emergency could bring relief. The regulation would allow the department to issue distribution licenses to a larger pool of applicants, including those outside the alcohol business. The Nevada Tax Commission is expected to vote on the regulation on Thursday.

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The state of Nevada should have no problem finding dispensaries that would want to sell recreational marijuana. I would assume there is a line up of people/store owners who would love to have the chance to sell. I believe there was 50 licensed who were given the opportunity, I imagine that the others on the list are still waiting anxiously.

Stephanie Klapstein, a spokeswoman for the Department of Taxation, told the Reno Gazette-Journal that a collapsed marijuana market would have far-reaching consequences. A 15% tax on the cultivation of marijuana generates revenue that the state spends on public education.

“A halt in this market will lead to a hole in the state’s school budget,”

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