Legal Marijuana Sales Nevada

Nevada Makes $27 Million in First Month of Legal Marijuana Sales

The gamble Nevada took on recreational cannabis is certainly paying off. In July alone, the state’s first month of legal sales, dispensaries sold a whopping $27.1 million worth of weed, which is near twice the amount that both Oregon and Colorado made in their first sales months, and it is nearly seven times what Washington managed to sell. According to the Nevada Department of Taxation, the fledgling market generated $10.2 million for state coffers in its first month. Of that, industry fees financed $6.5 million and tax revenues the other $3.68 million. Governor Brian Sandoval estimates that taxes and fees could generate roughly $100 million in revenues for the state over the next two fiscal years. However, between the state’s two-year-old medical cannabis market and its new recreational industry, Stephanie Klapstein, Department of Taxation spokesperson, thinks that this figure will be much higher, closer to $120 million. That is a …

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