Nevada: $530 Million in Marijuana Sold in FY 2018, State Has Over 8,000 Full-Time Marijuana Jobs

According to a new report by the Nevada Dispensary Association, there was over $500 million in marijuana and marijuana products sold legally in the state in fiscal year 2018 (July 1, 2017 to June 30, 2018).

Of the $529.9 million in marijuana sold, $424.9 million was recreational marijuana, with the remaining $105 million coming from the sale of medical marijuana. These sales brought in nearly $70 million in tax revenue for the state.

The report also found that the legal marijuana industry has brought at least 8,300 new full-time jobs to the state. From this, there was $443.3 million in labor income (direct, indirect and induced).

Read moreNevada: $530 Million in Marijuana Sold in FY 2018, State Has Over 8,000 Full-Time Marijuana Jobs

Nevada: Traffic Deaths Drop Over 10% Following Marijuana Legalization

Contrary to prohibitionist rhetoric, traffic deaths in Nevada dropped over 10% in the first year following the legalization of marijuana.

According to data collected and released by the Nevada Department of Public Safety, 277 people died  in car crashes between July, 2017 and May 2018. This is a 10.6% decrease from the same period a year prior; 310 people were killed in traffic accidents  between July 2016, and May, 2017.

Marijuana officially became legal in Nevada on January 1, 2017. Legal marijuana sales began half a year later, on July 1. The law allows anyone 21 and older to possess marijuana, and purchase it from a licensed retail outlet.

Read moreNevada: Traffic Deaths Drop Over 10% Following Marijuana Legalization

Nevada: $41 Million in Legal Marijuana Sold in March, New Monthly Record

Legal marijuana sales in Nevada this March were the highest they’ve ever, according to new data released by the state.

The Nevada Department of Taxation says that throughout the state there was over $41 million in marijuana and marijuana products sold legally in March. This easily surpasses the previous monthly record of $35.8 million set in December.

The roughly $41 million in marijuana sold in March resulted in just over $7 million in taxes for the state. This brings the tax total for the past nine months to almost $50 million, just barely shy of the $50.3 that was projected by the state for the full fiscal year.

Read moreNevada: $41 Million in Legal Marijuana Sold in March, New Monthly Record

Nevada: Over $27 Million in Marijuana Sold in First Month of Legal Sales

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.

Read moreNevada: Over $27 Million in Marijuana Sold in First Month of Legal Sales

Nevada May Become First State to Allow Marijuana Clubs

Marijuana clubs where the plant can be consumed onsite aren’t prohibited under Nevada law, according to state officials.

This means that Nevada may soon become the first state with legal marijuana to have marijuana clubs or lounges; such facilities are illegal in the seven other states where the plant has been legalized (although several states, namely Alaska and Colorado, have been discussing allowing them for some time now).

According to the Nevada Legislative Counsel Bureau, the state’s marijuana law does not prohibit city or county governments from operating a marijuana club or lounge where visitors may use marijuana onsite. This means that if a city or county chooses to approve of such outlets, they are within their legal right to do so.

Read moreNevada May Become First State to Allow Marijuana Clubs

Nevada Legal Marijuana Running Out, Governor Endorses State of Emergency

A state of emergency has been declared in Nevada due to a dwindling supply of marijuana.

Legal marijuana sales began in Nevada just 10 days ago, but the state is already running low on the plant. This has led to the Department of Taxation to declare a state of emergency, a declaration that has now been endorsed by Governor Brian Sandoval.

“Based on reports of adult-use marijuana sales already far exceeding the industry’s expectations at the state’s 47 licensed retail marijuana stores and the reality that many stores are running out of inventory, the Department must address the lack of distributors immediately,” says department spokeswoman Stephanie Klapstein. “Some establishments report the need for delivery within the next several days.”

Read moreNevada Legal Marijuana Running Out, Governor Endorses State of Emergency

Nevada: Legal Marijuana Sale Begin Saturday

Legal adult marijuana sales will begin in Nevada on Saturday, making it the fifth state in U.S. where legal marijuana sales are taking place.

Marijuana StudiesBeginning at 12:01 a.m. PT, those in Nevada who are 21 and older will be able to purchase up to one ounce of marijuana or one-eighth of an ounce of marijuana-infused edibles or concentrates from licensed marijuana retail outlets. Retail marijuana sales will be subject to a 10 percent sales tax, which state officials estimate will generate more than $60 million in the first two years.

“The marijuana prohibition era is finally coming to an end in Nevada,” says Mason Tvert, director of communications for the Marijuana Policy Project (MPP), which backed Question 2, the initiative to regulate marijuana like alcohol that was approved by approximately 54.5 percent of Nevada voters in November.

Read moreNevada: Legal Marijuana Sale Begin Saturday

Nevada Governor Signs Executive Order Allowing Recreational Marijuana Sales to Begin July 1st

Nevada Governor Brian Sandoval has signed an executive order allowing recreational marijuana sales to begin on July 1st.

The order signed into law by Governor Sandoval allows currently operating medical cannabis dispensaries to begin selling marijuana to everyone 21 and older beginning July 1st. The governor’s order comes amid concerns that a judge’s order could block the early start of recreational marijuana sales, which was approved by state tax officials in May.

The new law explicitly allows licensed dispensaries to sell up to an ounce of cannabis to those 21 and older; this includes tourists. Once the state’s system of recreational cannabis retail outlets is established next year, dispensaries will go back to selling cannabis exclusively to qualifying patients with a physician recommendation. The early start to marijuana sales is due to the fact that possession of up to an ounce of marijuana is currently legal, despite there being no legal means of obtaining it.

Read moreNevada Governor Signs Executive Order Allowing Recreational Marijuana Sales to Begin July 1st

Legal Recreational Marijuana Sales Begin in Nevada a Month from Today

Legal recreational marijuana sales begin in Nevada in just a month.

On July 1st, medical cannabis dispensaries in Nevada will be allowed to sale marijuana to everyone 21 and older. This is due to state officials recently passing rules that allow for an early start to recreational marijuana sales, which were legalized by voters last year.

Under the new rules, dispensaries will be authorized to sell up to an ounce of cannabis to those 21+, including tourists. Once the state’s system of recreational cannabis retail outlets is up and operating sometime next year, dispensaries will go back to distributing the plant exclusively to patients who have received a physician recommendation and are registered with the state.

Read moreLegal Recreational Marijuana Sales Begin in Nevada a Month from Today

Nevada Legislature Approves Measure to Legalize Hemp

Legislation that would legalize hemp throughout Nevada has been given approval by the state’s full legislature.

Senate Bill 396 received unanimous approval in the Senate late last month, and it has now been passed by the full Assembly with a 34 to 5 vote. With it being approved through both chambers, it will now be sent to Governor Brian Sandoval for consideration. Sandoval has the option of signing it into law, allowing it to become law without his signature, or vetoing it (if he does veto it the legislature could override it with a 2/3rds majority).

Senate Bill 396 would expand upon a current law that allows hemp to be grown in the state for research purposes by creating “a separate program for the growth and cultivation of industrial hemp and produce agricultural hemp seed in this State”; this would allow hemp to be grown for commercial – and not exclusively research – purposes.

Read moreNevada Legislature Approves Measure to Legalize Hemp