Cannabis Business in Nevada

Nevada’s cannabis industry established itself as a significant player in the state’s economy, with total cannabis sales that reached $825 million in 2023. The industry contributed over $80 million in tax revenue during the fiscal year 2022-2023, highlighting its vital role in supporting public services and infrastructure projects. The Cannabis Compliance Board regulated cannabis businesses in Nevada, ensuring that both medical and adult-use markets operated within the legal framework.

Plant-Touching Cannabis Licenses in Nevada

Nevada offers a variety of cannabis licenses, with most businesses operating under both medical and adult-use versions. However, consumption lounges, which allow for on-site cannabis use, are exclusively available for adult-use consumers. The Cannabis Compliance Board regulates the following licenses:

• Consumption Lounge – Licensed spaces where cannabis products, either pre-packaged or ready for immediate use, can be consumed on-site. Some lounges are attached to retail stores that sell cannabis for adult use, while others operate as standalone facilities for consumption purposes.
• Cultivation Facility – Facilities that are authorized to cultivate, harvest, and package cannabis. They distribute these products to retailers, manufacturers, or other growers, but do not sell directly to consumers.
• Distributor – Responsible for the transportation of cannabis products between licensed entities, such as delivering products from a grower to a retail dispensary or a manufacturer.
• Product Manufacturing Facility – These facilities process raw cannabis into a variety of products, including edibles, topicals, and concentrates, which are then sold to retailers or other licensed manufacturers. Direct sales to consumers are not permitted.
• Testing Facility/Laboratory – Facilities that analyze cannabis products for quality control, testing for both potency and safety to ensure they meet state regulations before being made available to consumers.
• Retail Store – Retail outlets that are licensed to purchase cannabis and cannabis products from cultivators and manufacturers and then sell them directly to consumers, adhering to all state-imposed safety and sales regulations.

Ancillary Cannabis Businesses in Nevada

Nevada’s cannabis industry is supported by a wide range of ancillary businesses that provide essential services to help businesses thrive. Whether you are starting a new venture or looking for a cannabis business for sale, these services play a vital role in ensuring smooth operations and compliance:

1. POS (Point-of-Sale) Companies – Providing dispensaries with software solutions to manage transactions, inventory, and compliance.
2. Accounting Firms – Ensuring that cannabis businesses meet state and federal tax regulations while optimizing financial operations.
3. Legal Compliance Firms – Offering expertise on Nevada’s cannabis laws to keep businesses compliant.
4. Banking Solutions – Helping cannabis businesses navigate the unique challenges of financial management in an industry with limited access to traditional banking.
5. Insurance Providers – Offering insurance solutions tailored to cannabis operations, from cultivation to retail.
6. Security Providers – Delivering advanced security systems to protect cannabis businesses from theft and ensure the safety of operations.
7. Marketing Agencies – Assisting cannabis businesses in building their brand and reaching target markets through compliant promotional strategies.

Other types of ancillary businesses include:

• Software and Technology Providers
• Packaging and Labeling Companies
• Consulting Firms
• Data Analytics Firms