Nevada Makes $30 Million In Marijuana Taxes During First Six Months Of Sales

February 28, 2018

By Mona Zhang

February 26, 2018

The Silver State’s marijuana industry is still in its infancy, but the cannabis market has raked in more than $30 million in tax revenue for the state so far. Retailers in Nevada have sold more than $195 million in cannabis during the first six months of its adult-use market.

Unlike other states (including California, Maine and Massachusetts) that legalized recreational marijuana in 2016, Nevada implemented its program a full six months ahead of the new year. The state charges a 15% tax on wholesale marijuana and a 10% tax on retail sales. That netted the state nearly $3.7 million in tax revenue for July 2017 – its first month of recreational sales. Tax revenue hit a peak of nearly $5.84 million in October 2017.



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