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Nevada Marijuana Market Rakes In $5.5 Million In Taxes In November

Gov. Brian Sandoval’s office projected an average of $5 million per month

Tax proceeds from Nevada’s marijuana sales exceeded expectations in November, adding to already better-than-average figures from the four previous months of legal recreational pot sales, according to information released Monday.

The industry brought in more than $5.5 million in November, which includes a 15 percent wholesale tax for both medical and recreational pot, and a 10 percent excise tax on recreational weed sales, the Nevada Department of Taxation said. That’s down from about $5.8 million in October, but up from about $4.7 million in September, $4.8 million in August and $3.6 million in July for a total of about $24.6 million.

November’s figures for the 15 percent wholesale tax — which charges Nevada cultivation and production facilities for transporting the plant to local dispensaries — was more than $3.3 million, while the 10 percent excise tax was an all-time monthly high of about $2.1 million.

 

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