Governor Brian Sandoval has proposed a new 10-percent tax on recreational marijuana sales that would aid in stabilizing the state’s budget. Sandoval is expecting this tax to bring in nearly $69 million. The main benefit of this tax would be seen in the Nevada school system.
Wholesale sales of recreational marijuana will already be taxed at 15-percent, according to Reno Gazette-Journal. The fees and wholesale taxes already in place are expected to bring in $21 million.
Sandoval said, “I will ask regulators to limit the sale of marijuana products and packaging that appeal to children or may be mistaken for candy. Let’s work together to make sure Nevada’s market for legal marijuana is restricted, responsible and, most importantly, respected.”
The Nevada public school system needs a dedicated source of funding. A formal decision has not been reached regarding the new 10-percent marijuana tax proposed.