Projected marijuana tax revenue at 83 percent for fiscal year

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Nevada’s projected marijuana tax revenue is already at 83 percent eight months into the fiscal year, according to Nevada Department of Taxation. 

Marijuana taxes brought in a total of $5.95 for the month of February, which was the largest month to date. So far, marijuana sales have generated $41.88 million in total tax revenue. The total amount of tax revenue projected is $50 million.

The taxes come from the sales of medical marijuana and recreational-use sales. The Wholesale Marijuana Tax is paid by cultivators and that is tracking slightly higher than expected. The Retail Marijuana Tax which is paid by consumers has come in significantly above projections each month.

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