In March, there was over $70 million in legal marijuana sold, and over $10 million in marijuana taxes garnered in Nevada.
Data released by the Nevada Department of Taxation Cannabis Tax Revenue shows that there was $73,167,470 worth of marijuana and marijuana products sold through legal means in March. This is considerably lower than the $83 million sold in February, but considerably higher than the $62 million sold in January. Marijuana sales for March resulted in $10,058,746 in tax revenue for Nevada.
$55,596,859 of these sales came from Clark County, just shy of $10 million came from Washoe County and $7.7 million came from “all other counties”.
Total sales for fiscal year (FY) 2024 now stands at $617,260,997, resulting in $89,729,324 in tax revenue.
In 2023 there was $936,031,174 in total marijuana sales, resulting in $124,415,555 in marijuana tax revenue. Over 70% of marijuana sales in 2023 occurred in Clark County, while around 15% took place in Washoe County.
In Nevada marijuana was legalized in 2016, allowing those 21 and older are allowed to possess up to one ounce of marijuana and up to 3.5 grams of marijuana concentrates. Licensed marijuana retail outlets opened the following year in certain cities (localities were given the option to opt out).
Nevada has a wholesale marijuana excise tax of 15% on both medical and recreational sales, and an additional 10% retail excise tax that applies only to recreational marijuana.
More articles from The Marijuana Herald can be found below.
