Nevada Garnered $649 Million in Marijuana Taxes Since Start of Legal Sales, $3.5 Billion Sold

Nevada has garnered just shy of $650 million in marijuana taxes since legal sales began in July of 2017.

In total Nevada made $649 million in taxes from the legal distribution of $3,595,065,939 worth of marijuana and marijuana products. This is according to data released by the Nevada Department of Taxation, and including sales information through the end of December.

55% of Nevada voters approved Question 2 in November 2016, legalizing the possession of up to an ounce of marijuana and up to 3.5 grams of marijuana concentrates. The initiative established a licensed and regulated system of marijuana retail outlets, allowed to sell marijuana to anyone 21 and older. The law took effect on January 1, 2017, with the first retail outlet opening on July 1 of the same year.
In Nevada the state has a wholesale cannabis excise tax of 15% on both medical and recreational marijuana sales, and an additional 10% retail cannabis excise tax for just recreational marijuana.

Nevada also made around $20 million from applications, licenses and other fees related to the legal marijuana industry.

You can find detailed marijuana sales data for Nevada on the Department of Taxation’s website, which you can visit by clicking here.

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