Nevada: First days of recreational marijuana sales generate about $500,000 in taxes
The first four days of legal recreational marijuana sales generated $3 million in sales revenue and about $500,000 in tax revenue, putting Nevada on pace to achieve an estimated $30 million in sales revenue over the next six months of recreational sales, according to the Nevada Dispensary Association.
The sales figure was generated from Saturday’s first day of recreational marijuana sales to Tuesday. The tax rate for recreational pot is 33 to 38 percent, depending on local regulations, with all state and local taxes included.
“We had a higher demand than everybody initially thought,” dispensary association director Riana Durrett said. “It shows this market really exists.”
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