Originally, Nevada’s cannabis industry was projected to reach $50 Million this year. This wasn’t enough for the silver state, which is well on it’s way to reaching $60 Million in sales. KTVN-TV reported Tuesday that if revenue from cannabis sales keeps going the way it is, it will leave extra money for the budget.
With a state that brings in a large number of tourists already, it is no wonder why the legal adult use cannabis industry fits in so well to the state’s economy.
The tax money is coming in for these sales as well. Most of the 10% retail tax goes to the state’s “rainy day” fund, the 15% wholesale tax funds the Tax Department, local jurisdictions and education.