Refresh Checked Unchecked Menu Search Shopping bag Geolocation Person Facebook Instagram Twitter YouTube Info Icon CBC Icon CBC Shape CBD Icon CBD Shape CBG Icon CBG Shape THC Icon THC Shape THCV Icon THCV Shape Loading…
Advertise on Leafly

Nevada Starts Strong With $27 Million in First Month Sales

September 29, 2017
A cashier rings up a marijuana sale at the Essence cannabis dispensary, Saturday, July 1, 2017, in Las Vegas. Nevada dispensaries were legally allowed to sell recreational marijuana starting at 12:01 a.m. Saturday. (John Locher/AP)
Look out, Washington and Colorado: There may be a new American cannabis king. New data released by the Nevada Department of Taxation indicates that Nevada more than doubled both Colorado and Washington’s first month of adult-use cannabis sales.

Nevada recorded just over $27 million in cannabis sales in July, the state’s first month of business, which generated $3.68 million in tax revenue.

Related

Nevada Legalization Is Changing the Las Vegas Scene. Could Consumption Lounges Be Next?

The Department of Taxation also reported that license and application fees paid by cannabis businesses have, to date, generated $6.5 million in state revenue.

That revenue, along with a 15% excise tax on wholesale cannabis sales, goes to public schools, after administrative costs are taken out.

Related

Data Dive: Cannabis Extract Sales Skyrocketing

The state also realized $2.71 million from a 10% retail cannabis tax. That revenue goes into a “rainy day fund” which is expected to generate around $63.5 million in the next two years.

Washington State’s first month and a half of cannabis sales totaled just under $3.5 million dollars, due to restricted supply. The state didn’t hit at least $27 million in a single month until the 10th month of recreational cannabis sales.

Related

Data Dive: Cannabis Sales Keep Climbing in Washington and Colorado

Colorado recorded $14,368,620 in its first month of adult-use cannabis sales back in January 2014.

Gage Peake's Bio Image

Gage Peake

Gage Peake is a former staff writer for Leafly, where he specialized in data journalism, sports, and breaking news coverage. He's a graduate of the University of Nebraska-Lincoln's College of Journalism and Mass Communications.

View Gage Peake's articles