Nevada: Over $27 Million in Marijuana Sold in First Month of Legal Sales

Nevada: Over $27 Million in Marijuana Sold in First Month of Legal Sales

Nevada: Over $27 Million in Marijuana Sold in First Month of Legal Sales

Millions of dollars worth of marijuana was sold in Nevada in July, the month such sales became legal.

In total, there was $27.1 million in marijuana sold in Nevada in July. By comparison, Washington State sold just $3.8 million in legal marijuana during their first full month of legal sales (which was also in July), and Colorado sold roughly $14 million.

According  to the Nevada Department of Taxation, the state garnered $10.2 million in taxes during July; $6.5 million from industry fees and $3.68 million from tax revenue. Governor Brian Sandoval projects the state to bring in around$100 million over the next two fiscal years from such taxes and fees. However, new projections find that the number may end up closer to $120 million, says Stephanie Klapstein, a spokesperson for the Department of Taxation.

According to Klapstein, Nevada made $2.71 million from the 10% tax on marijuana sales, plus $974,060 from the 15% wholesale tax paid by cultivators.

About Anthony Martinelli

Anthony, co-founder and Editor-in-Chief of TheJointBlog, has worked closely with numerous elected officials who support cannabis law reform, including as the former Campaign Manager for Washington State Representative Dave Upthegrove. He has also been published by multiple media outlets, including the Seattle Times. He can be reached at TheJointBlog@TheJointBlog.com.

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Published at Sat, 30 Sep 2017 05:50:37 +0000