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.