Nevada Cannabis Tax Revenue Blows Expectations at 140% in One Year
The expected tax revenue from Nevada cannabis sales came in at 40%, which is more than was expected for its first years of sales. Growth of sales was exponential through the year with the addition of a higher rate, per month, than expected.
Tax revenue from the 10% tax on recreational cannabis and 15% on wholesale cannabis totaled to over $69.8 million. The bulk of the tax revenue came from an estimated $424.9 million of cannabis sales and only $27.3 million in tax revenue came from wholesale cannabis sales.
Nevada Cannabis Tax Revenue Blows Expectations at 140% in One Year
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