Trade Group: Nevada to Collect $1B in 7 Years from Marijuana

LAS VEGAS (AP) — A report for a cannabis trade group says marijuana production, processing, and sales could reap more than $1 billion in tax revenue for Nevada over seven years.

That’s a key finding in an economic analysis released Oct. 26, 2018, by the Nevada Dispensary Association. It projects that cannabis-friendly policies in tourist-oriented Las Vegas and Reno could make Nevada one of the nation’s largest marijuana marketplaces by 2024.

The report comes after state officials reported that first-year taxable cannabis sales totaled almost $530 million statewide. Nevada received just under $70 million in tax revenue since sales started July 1, 2017.

The analysis by Las Vegas-based RCG Economics didn’t look at public safety, health, human services, schools, or criminal justice costs associated with legalization.

Full Article: https://www.marijuana.com/news/2018/10/trade-group-nevada-to-collect-1b-in-7-years-from-marijuana/

 

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