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Mystic Holdings restructuring approved, CCB refers outstanding tax questions to Attorney General
Summary
The board approved Mystic Holdings’ plan to dissolve Qualcan and distribute its licenses among Mystic subsidiaries, but members directed staff to send outstanding sales-and-use tax questions to the Attorney General after lengthy discussion of reconciliation and payment plans.
CARSON CITY, Nev. — The Cannabis Compliance Board approved Mystic Holdings’ request to reorganize licenses previously held by Qualcan into three separate Mystic subsidiaries on Thursday, but members asked the Attorney General’s office to review unresolved tax questions raised by the Department of Taxation.
‘‘Staff have identified an area of concern with this application, namely Mystic Holdings through its subsidiaries, Qualcan, Pixi, and Pixi Reno owe the Department of Taxation approximately $931,000 as of March 7,’’ Rachel Brenner, Chief Compliance Audit Investigator, told the board during the March 20 meeting.
Mystic representatives disputed parts of the tax accounting but acknowledged there were outstanding balances. ‘‘We’ve paid an additional $713,345.22 since February,’’ Michael Cristalli, a company representative, said during the meeting.
Board action and…
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