Nevada took a gamble on recreational marijuana, and it’s paying off.
Dispensaries sold $27.1 million of pot in Nevada, in July alone. That’s almost double what both Colorado and Oregon sold in their first months. It’s almost seven times what Washington sold.
Banking on weed, Nevada made $10.2 million off the fledgling industry during the first month of sales in July, according to the Nevada Department of Taxation. Of that, $6.5 million came from industry fees and $3.68 million came from tax revenue.
Gov. Brian Sandoval projected that, between its two-year old medical marijuana industry and the now upright recreational marijuana industry, the state could pull in approximately $100 million over the next two fiscal years from both taxes and fees.
– Read the entire article at RGJ News.