Nevada collects $69.8 million in pot taxes in one year

The first full fiscal year of legal marijuana sales generated $69.8 million in tax revenue for Nevada.

That is well above the $50.3 million state officials predicted pot sales would generate with the last four months of collections all more than $6.5 million. June tax collections topped $7.1 million.

Total sales of marijuana and marijuana products including edibles totaled $529.9 million for the year. Of that, $424.9 million was from adult-use sales, which generated $42.5 million in tax collections from the 10 percent Retail Marijuana Tax. The rest came from medical marijuana sales.

The 15 percent wholesale tax generated $27.3 million in tax collections through the end of the fiscal year June 30.

Read more: https://www.nevadaappeal.com/news/government/nevada-collects-69-8-million-in-pot-taxes-in-one-year/#