New Report Estimates Over $1 Billion in Cannabis-Derived Taxes for Nevada

New Report Estimates Over $1 Billion in Cannabis-Derived Taxes for Nevada

The report predicts that recreational marijuana sales should hit compounded sales of $4.9 billion by July 2024.

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The marijuana sales numbers are out for the Silver State, and they're pretty darn impressive.

 

According to a new report by RCG Economics LLC and The Nevada Dispensary Association (NDA), which represents 90 percent of dispensaries statewide, taxable cannabis sales surpassed $525 million in the period from July 2017 to July 2018. The sales generated total economic benefits of almost $1 billion. The report predicts that recreational marijuana sales should hit compounded sales of $4.9 billion (in 2018 inflation-adjusted dollars) by July of 2024.

 

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Top photo courtesy of Adobe Stock