Yep, you read that right (You must hold your pinky to the corner of your mouth like Dr. Evil when you say) 1 Million Dollars worth of Cannabis sales a day. That amount has been figured after the first 6 months of Recreational Cannabis sales started in Nevada. These numbers are reported by The Nevada Department of Taxation.
Million Dollar Baby
From a article on Patch.com, Cannabis sales since July 1st when Recreational Cannabis was available for sale in Nevada have exceeded over $195,000,000 with tax revenue over $30,000,000. The state has also reported almost $11 Million dollars through wholesale tax and over 19 Million from retail tax.
In December 2017, the 15% tax on wholesale, retail and medical cannabis from cultivator to dispensary netted just over $2 Million dollars. On top of that, over $3.5 Million was brought in through the 10% retail cannabis tax. That makes the month of December 2017 the 2nd highest tax revenue earner so far for Nevada bring in over $5.5 Million.
Money Does Grow on Trees
6 months into Recreational Cannabis in Nevada, the totals show that by the end of the first year of sales, totals could exceed $400 Million Dollars. Nevada Cannabis Dispensaries sold $195,467,170 worth of product in the first 184 days of recreational cannabis.
Here is a breakdown on Taxes from The Nevada Department of Taxation & the Patch.com article
July
15% wholesale tax revenue: $974,060
10% retail tax revenue: $2,708,713
Total tax revenue: $3, 682, 773
Total sales: $27,087,130
August
15% wholesale tax revenue: $1,509,668
10% retail tax revenue: $3,351,973
Total tax revenue: $4,861,641
Total sales: $33,519,730
September
15% wholesale tax revenue: $1,948,914
10% retail tax revenue: $2,771,370
Total tax revenue: $4,720,284
Total sales: $27,713,700
October
15% wholesale tax revenue: $2,042,652
10% retail tax revenue: $3,796,685
Total tax revenue: $5,839,336
Total sales: $37,966,850
November
15% wholesale tax revenue: $2,164,991
10% retail tax revenue: $3,341,076
Total tax revenue: $5,506,067
Total sales: $33,410,760
December
15% wholesale tax revenue: $2,189,794
10% retail tax revenue: $3,576,900
Total tax revenue: $5,766,694
Total sales: $35,769,000
Year to date
15% wholesale tax revenue: $10,830,079
10% retail tax revenue: $19,546,717
Total tax revenue: $30,376,795
Total sales: $195,467,170
(Data from Nevada Department of Taxation & Patch.com)
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This was posted from Smoke.Network