Under current law, an adult cannabis cultivation facility licensee is required to submit a monthly return to the State Tax Assessor and pay all the excise taxes incurred from sales to other cannabis licensees that occurred within the preceding month. This bill extends the amount of time a cultivation facility licensee has to remit the excise taxes to 120 days after a sale upon which an excise tax is levied or, for a cultivation facility that holds a license to operate another cannabis establishment, 120 days after the date of transfer or other licensed activity as specified in the bill.

Statutes affected:
Bill Text LD 1654, HP 1095: 36.4924