Nevada Sold More Than $1 Billion In Marijuana In One Year, Officials Report

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Nevada retailers sold more than $1 billion in medical and recreational marijuana over a one-year period, state officials announced on Wednesday. The Nevada Cannabis Compliance Board (CCB) and the Nevada Department of Taxation released the data, which shows $1,003,467,655 in taxable cannabis purchases in Fiscal Year 2021, which ran from July 1, 2020 to June 30, 2021. By contrast, total marijuana sales for the prior 2020 fiscal year amounted to $685 million. CCB & @NVTaxDept Release Annual Cannabis Taxable Sales Data for FY21 – full release below: pic.twitter.com/dtn8XNz9Mz — Nevada Cannabis Compliance Board (@NevadaCCB) October 13, 2021 The bulk of the marijuana purchases ($791,100,017) came from Clark County, where Las Vegas is located. Another $135,326,790 of cannabis was sold in Washoe County, with Reno being the major city in that jurisdiction. The $77,040,859 remainder came from other counties. Ten percent of tax revenue from recreational cannabis sales will support pubic education funding, as prescribed under a bill that Gov. Steve Sisolak (D) previously signed. “This is what Nevadans expected since the legalization of recreational marijuana,” the governor said in a press release about the new sales data. “Education remains one of my top priorities, and I’m proud to see promised tax revenue from cannabis sales directly funding our students and classrooms.” Sisolak also signed a bill in June to legalize marijuana consumption lounges in the state. The new social use license types statewide and giving consumers this option—especially in the tourist-centric state—could further boost marijuana and other tax revenues. The governor has also committed to promoting equity and justice in the state’s marijuana law. Last year, for example, he pardoned more than 15,000 people who were convicted for low-level cannabis possession. That action was made possible under a resolution the governor introduced that was unanimously approved by the state’s Board of Pardons Commissioners. —…

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Source : Nevada Sold More Than Billion In Marijuana In One Year, Officials Report

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