Nevada Books $1M in Daily Cannabis Sales, $30M in Taxes

As they say in horse racing: "And they're off!"

The State of Nevada is already on a hot streak, booking an average of $1M per day in cannabis sales, and bringing in $30M to state coffers in only the first six months of operations, says a new article in locally focused new source, Patch.

In the month of December alone, that state tax haul includes almost $36M in sales which generated nearly $6 Million in new taxes.

Annual Nevada cannabis sales for 2017 were $195,467,170.

(Perhaps these big rev and tax rates are where the New Jersey Policy Perspective got Governor Phil Murphy to estimate NJ would make $300M from cannabis taxes?)

How is Cannabis Tax Money Used in Nevada?

Cannabis tax money in Nevada is used to cover the costs of administering the cannabis program, as well as for schools and the state's general fund. It's a rather complicated (and apparently hotly contested) formula...

if you want to get deeper understanding of Nevada politics and budget wrangling, take a read Here; "Plan to distribute marijuana tax money rankles CCSD official" in the Las Vegas Review-Journal.

Infographic image source for: LV Review-Journal