{"id":235797,"date":"2022-10-05T17:24:54","date_gmt":"2022-10-05T22:24:54","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=235797"},"modified":"2022-10-05T17:36:00","modified_gmt":"2022-10-05T22:36:00","slug":"nevada-cannabis-sales-slightly-off-high-but-still-about-1b-yearly","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/nevada-cannabis-sales-slightly-off-high-but-still-about-1b-yearly\/","title":{"rendered":"Nevada Cannabis Sales Slightly Off High, But Still About $1B Yearly"},"content":{"rendered":"
Sales from legal cannabis brought about $1B in taxable revenue into Nevada this past fiscal year, according to the Nevada Cannabis Compliance Board (CCB), funding the state’s K-12 public schools to the tune of $147M.<\/p>\n
More than $89M of this budgetary boon came from a 10% retail adult-use excise tax \u2013 as per SB 545, approved by the state legislature in 2019. Another $64M came from a portion of a 15% wholesale tax for adult and medical use. Other sources included civil penalties, in addition to licensing and other fees.<\/p>\n
As well as education, the wholesale tax proceeds fund two additional pots: $5M goes to local governments and the remainder to regulatory operations, such as the CCB.<\/p>\n