Legal Pot Sales Huge In Nevada, Tax Division Loves It

The first month of legal recreational marijuana sales in Nevada brought in more than $3.5 million in tax revenue. Nevada Tax Department spokeswoman Stephanie Klapstein told The Associated Press they are “good numbers” consistent with projections pot sales will generate $120 million in state taxes over the next two years. Marijuana is taxed at a 15 percent wholesale and 10 percent retail rate. The 120 million two year projection anticipates $5 million in monthly tax revenue. Some of that money will go to the state’s rainy day fund, some is headed for schools.