5 Things You Didn’t Know About the Nevada Marijuana Economy

In November 2016, the state of Nevada voted “yes” to legalize marijuana, so adults 21 and older can now possess up to an ounce of cannabis in the state. As of January 1, 2017, Nevada residents could possess one ounce of marijuana, but within just a month, the state’s marijuana industry and economy saw significant changes, both positive and negative.

First, the state expects to pull in $30 million in sales in the next six months, so Nevada actually budgeted  $100 million in expected marijuana tax revenue. In the first four days marijuana went on sale, Nevada made $3 million and roughly another $500,000 in tax revenue. With these numbers, Nevada should easily reach $30 million, except the state and dispensaries are experiencing marijuana shortages. In response, the Department of Taxation issued emergency orders to increase supply because the sales dropped 20% to 30% as a result. Even with more supply, the dispensaries will continue to struggle because their taxes are high with a 15% wholesale tax, 10% excise tax, and sales tax depending on the county. Fortunately, part of the marijuana tax revenue goes to Nevada’s education budget, so at least these high taxes are helping the state.


Right now, cannabis can only be legally purchased through dispensaries or online retailers, but that could change if a group representing corner stores across America gets its way. The lobbying arm of the National Association of Convenience Stores (NACS) is preparing to fight for the ability of their members to sell weed once it becomes federally legal in America. NACS doesn't have support for federal cannabis policy reform on their official agenda, but that doesn't mean they don't want a piece of the pie if the industry is legalized nationwide.

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