Nevada pulls in nearly $5M in taxes from pot sales in August
HENDERSON, Nev. (AP) — The Nevada Department of Taxation says the state hauled in nearly $5 million in total tax revenue from recreational marijuana sales in August.
That’s up from the $3.7 million in taxes in July, the state’s first month of recreational weed sales.
According to figures released Monday, $3.35 million were generated by the 10 percent sales tax on recreational marijuana, while $1.51 million generated by the 15 percent wholesale tax at the cultivation level on all marijuana (up from $974,060 in July).
CEO of The+Source dispensaries and President of the Nevada Dispensary Association Andrew Jolley says he expects the market to continue to grow steadily over the next several months.