In only 4 months – July to October 2018, Nevada’s marijuana industry generated more than 45% of the expected revenue for the entire fiscal year. Beating the state’s expectations and according to the Nevada Dept. of Taxation, $31.72 million in taxes was collected.
Ending June 30th, fiscal year 2019 is projected by the Dept. of Taxation at a total of $69.4 million from marijuana tax revenue.
Approximately 80% came from Clark County and 14% came from Washoe County.
Nevada’s total statewide sales has hit $197.95 million year-to-date. Sales in Nevada includes medical marijuana, recreational marijuana and marijuana related goods.
The revenue plus money collected from the wholesale marijuana tax funds the costs to administer the marijuana program. Each year $5 million of the revenue goes to local governments. The remaining money goes to the state’s Distributive School Account.