Nevada lawmakers finalize cannabis tax

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Nevada Governor Brian Sandoval

Nevada lawmakers passed a measure Sunday night that would set cannabis tax rates at 10 percent for retail sales and 15 percent for wholesale. Republican Gov. Brian Sandoval is expected to approve the measure in the state’s budget package.

During the next two years, cannabis tax revenue is expected to mainly fund public education.

Specifically, the revenue will boost Nevada’s Opportunity Scholarships by $20 million and provide $25 to the University of Nevada, Las Vegas, depending on matching funds from private donors.