Section 372A.155 - Method for calculating fair market value at wholesale for various categories of cannabisThe Department will calculate the fair market value at wholesale using the reported sales or transfer of cannabis in each category of cannabis described in this section using the methodology described in subsections 1 to 6, inclusive. The fair market value at wholesale of:
1. Cannabis bud must be calculated on the basis of the total weight of all cannabis bud that is sold, excluding the inadvertent inclusion of an inconsequential amount of cannabis bud in a sale of cannabis trim.2. Cannabis trim must be calculated on the basis of the total weight of all cannabis trim that is sold, including the total weight of an inconsequential amount of cannabis bud which is inadvertently included.3. Immature cannabis plants must be calculated on the basis of the total number of immature cannabis plants sold.4. Whole wet cannabis plants must be calculated on the basis of the total weight of the entire whole wet cannabis plant. A cannabis cultivation facility shall maintain records of the time each batch containing whole wet cannabis plants is harvested and weighed which contain the weight of each plant, are in writing and are created contemporaneously with the harvesting and weighing. To determine the total weight of the whole wet cannabis plant:(a) The plant must not undergo any further processing, including, without limitation, drying the plant and subsequently selling separately the cannabis bud and cannabis trim from the plant, before being weighed; and(b) The plant must be weighed within 2 hours after the harvesting of the batch containing the plant and without any further processing of the plant, including, without limitation, increasing the ambient temperature of the room in which the plant is held or drying, curing or trimming the plant. If the whole wet cannabis plant is not weighed within 2 hours after the harvest of the batch containing the plant or is subjected to further processing, the fair market value at wholesale of the plant must not be calculated using this subsection and must be calculated using subsection 1 or 2.5. Cannabis seeds must be calculated on the basis of the total number of seeds sold.6. Any other category of cannabis must be determined by the Department on a case-by-case basis.Nev. Admin. Code § 372A.155
Added to NAC by Tax Comm'n by R108-20A, eff. 4/11/2022NRS 360.090, 372A.050, 678B.640