Thursday , April 25 2024
Home / Nevada Marijuana News / Nevada’s Medical Marijuana Sales Generate Over $200,000 in Taxes

Nevada’s Medical Marijuana Sales Generate Over $200,000 in Taxes

NV Dispensary

Medical marijuana was legalized in Nevada in mid-2015, and according to data provided by the state, over $229,000 in sales tax revenue has been generated.

A rate of 2 percent is added to every medical marijuana purchase. An astonishing 75 percent, or $171,949 has gone to help schools. The remaining 25 percent has gone to the state health division.

Nevada Medical Marijuana Association representative Will Alder said that about 2/3rds of medical marijuana sales are completed for out-of-state patients and not Nevada residents, News 4 reported. Nevada has a reciprocity law in place which allows dispensaries to sell medical marijuana to out-of-state patients if they have a valid medical marijuana card from their home state.

According to Alder, the out-of-state sales is what is fueling the medical marijuana industry in Nevada, at least for now.