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Marijuana sales continue to bring in big bucks for Nevada

Posted at 3:37 PM, Dec 14, 2020
and last updated 2020-12-14 17:37:25-05

From January to the end of September, Nevada's cannabis dispensaries made more than $588 million in sales.

That's according to a new report by the Nevada Dispensary Association. The industry group that represents cannabis sellers in Nevada said over last year, they have recorded a 14% increase in sales. In September alone, Nevada dispensaries reported $82.6 million in sales — a 43% increase over the same month last year.

September is the latest month that data is available.

Nevada voters legalized recreational marijuana in 2016. The state puts a 15% excise tax on wholesale sales, then a 10% tax on recreational sales to consumers. According to Nevada's Department of Taxation, the state took in nearly $37 million from July through September.

Like a lot of things that are legal in Nevada, recreational marijuana remains illegal in Utah. Voters here approved medical cannabis in 2018. The state has implemented a tightly-controlled medical cannabis dispensary program.