RENO, Nev. — State tax officials say the first month of legal sales of recreational marijuana in Nevada brought in more than $3.5 million in tax revenue.
Nevada Tax Department spokeswoman Stephanie Klapstein told The Associated Press Thursday they are “good numbers” consistent with projections that marijuana sales will generate $120 million in state taxes over the next two years.
STATE BY STATE: Nevada Cannabis News
The combination of a 15 percent wholesale and 10 percent retail tax raised $3.68 million in July, the first month of Nevada’s fiscal year.
Some of that’s headed to the state’s rainy day fund. But the vast majority going forward is dedicated to schools.
Legal sales began July 1.
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