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Cannabis Status

Medical and Recreational

Overview of Medical Cannabis in Nevada

Ballot Question 9 for possession and use was passed as a ballot initiative in 2000, and Senate Bill 374 for the authority to license and regulate businesses was passed as a legislative bill in 2013. Patients are required to obtain a written statement from a doctor. Nevada also accepts patients from other states as long as they have a valid registration card. Home cultivation is allowed only if the patient cannot reasonably travel to a dispensary for their needed strains in 25 miles.

Possession Limit

2.5 oz every two weeks, and for those that qualify for Home Cultivation, they may keep up to 12 plants.

Overview of Recreational Cannabis in Nevada

Ballot Question 2 was passed as a ballot initiative in 2016. Home cultivation is allowed only if they are more than 25 miles away from a dispensary.

Possession Limit

1 oz of flower, or 1/8 oz of concentrate with 1,750 milligrams of THC. Those that qualify for Home Cultivation may keep 6 plants per person and 12 plants per household

Hemp Status


Overview of Hemp in Nevada

Senate Bill 305 for the legalization of Industrial Hemp for research purposes passed as a legislative bill in Nevada in 2015.

Hemp was then federally legalized in the 2018 Farm Bill, signed December 20, 2018.

Cannabis Inventory and IFRS Biological Assets – Inventory Records

As cannabis companies continue to move to the public markets in Canada, high quality inventory records become much more important. Not only is there greater disclosure and scrutiny of financial information, but International Accounting Standard 41: Agriculture (IAS 41) requires additional computations on biological assets (plants and all inventory derived from those plants) to bring […]