Legal Marijuana Sales Continue to Beat Projections

Taxes from legal marijuana in Nevada were over $7 million in September, just short of the single-month record set in August.  The industry brought in more than $7.49 million in September, which includes a 15 percent wholesale tax on medical and recreational pot and a 10 percent excise tax on recreational sales.  The governor’s had projected $5 million a month would be raised from the two tax sources from July 2017 to July 2019, resulting in a total collection of $120 million. But collections are running 40% higher. Through the first quarter of the fiscal year, collections are double the same period the previous year.