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. 

Click here to read the complete article

Mona Zhang ~ Forbes.com

Recent News Articles

Wednesday January 22

Largest U.S. Farm Group Supports Higher THC Limit for Industrial Hemp - Cannabis News

in CBD & Hemp

by Bruce Kennedy - Editor in Chief

U.S. farmers think the USDA hemp regulations are too stringent.

2256 hits

Wednesday January 22

New York Governor Includes Marijuana Legalization In New Budget Plan - Cannabis News

in Politics

by Bruce Kennedy - Editor in Chief

New York Gov. Andrew Cuomo (D) included marijuana legalization in his budget proposal on Tuesday,…

2266 hits

Wednesday January 22

Texas A&M-developed device helps weed out hemp from marijuana - Cannabis News

in Hi-Tech

by Bruce Kennedy - Editor in Chief

A new tool, developed by Texas A&M University scientists, could tell the difference between legal…

2729 hits

Wednesday January 22

‘Cruel and unusual’: Kansas resident faces decades in prison for medical marijuana use - Cannabis…

in Law & Crime

by Bruce Kennedy - Editor in Chief

Kansas native Larry Burgess has spent nearly three years living in Colorado. He doesn’t know…

2686 hits

Thursday January 23

Pennsylvania’s medical marijuana program faces persistent pot shortages - Cannabis News

in Medical News

by Bruce Kennedy - Editor in Chief

Pennsylvania doesn’t have enough marijuana to go around.

2202 hits