Nevada marijuana sales near $1 billion for year

Nevada Appeal Report

Nevada’s legal recreational and medical marijuana dealers sold just shy of $1 billion worth of pot in the fiscal year ended June 30.

Those dispensaries reported just over $965 million in taxable sales during the year. That total is a 4% decrease from the previous fiscal year when taxable sales totaled more than $1 billion.

Of that, 78% or $754.3 million was generated in Clark County. Wahoe County reported $126.8 million in taxable sales, just over 13% of the total. The rest was in Nevada’s rural counties. The remaining 9% or $83.8 million was generated in the other 15 Nevada counties including Carson City.

Those taxable sales generated $147 million in revenue that was transferred to the state education fund. The rest of the $152.3 million in collections goes to pay for operation of the Cannabis Compliance Board and other administrative costs of managing the program.

Nevada imposes a 15% wholesale excise tax on recreational and medical pot sales. In addition, the state adds another 10% to retail recreational marijuana sales.

Support Local Journalism

Support Local Journalism

Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Your donation will help us continue to cover COVID-19 and our other vital local news.