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Nevada recreational marijuana sales reach $41M

Recreational marijuana sales topped $41 million in March, the highest number since legal sales began statewide in July, the state reported last week.

That translates into $7.09 million in tax revenue in March from marijuana, according to a state Department of Taxation release.

“March numbers continue to point to a strong likelihood that Nevada will close out the fiscal year this June with much more robust marijuana revenue collections than anticipated,” department executive director Bill Anderson said in a statement.

To date, recreational marijuana taxable sales have totaled $304.73 million.

Taxable sales for marijuana and marijuana-related goods for medical or recreational purposes totaled $385.99 million for the first nine months of the fiscal year, which ended March 31.

The marijuana flower, or bud, accounted for half of purchases by consumers, either for medical or recreational purposes. Concentrates accounted for a quarter of sales. Infused edibles accounted for 13 percent.

Marijuana tax revenues for the state totaled $48.97 million in the first nine months of the fiscal year.

February is now the second-largest month for sales.

For the fiscal year:

— $18.5 million came from the wholesale marijuana tax paid by cultivators of medical and recreational marijuana

— $30.47 million came from the retail marijuana tax paid by consumers of recreational marijuana

Marijuana-related fees, penalties and assessments have generated $10.2 million to date.

 

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