Millions of dollars worth of marijuana was sold in Nevada in July, the month such sales became legal.
In total, there was $27.1 million in marijuana sold in Nevada in July. By comparison, Washington State sold just $3.8 million in legal marijuana during their first full month of legal sales (which was also in July), and Colorado sold roughly $14 million.
According to the Nevada Department of Taxation, the state garnered $10.2 million in taxes during July; $6.5 million from industry fees and $3.68 million from tax revenue. Governor Brian Sandoval projects the state to bring in around$100 million over the next two fiscal years from such taxes and fees. However, new projections find that the number may end up closer to $120 million, says Stephanie Klapstein, a spokesperson for the Department of Taxation.
According to Klapstein, Nevada made $2.71 million from the 10% tax on marijuana sales, plus $974,060 from the 15% wholesale tax paid by cultivators.