Clark County could see as many as 31 new recreational marijuana stores open based on the number of licenses the state has available.
Nevada dispensaries sold nearly $425 million worth of recreational marijuana and pulled in nearly $70 million in tax revenue in the state’s first full year of sales, officials announced Tuesday.
Democratic gubernatorial nominee Steve Sisolak told business leaders on Friday that if some Nevadans knew that revenue from a marijuana sales tax isn’t all going towards education, they would not have voted to legalize cannabis.
Recreational marijuana sales became legal in Nevada on July 1, 2017. In the year that’s passed, cash has flowed, businesses have grown and no major controversies have surfaced.
The recreational marijuana industry has accounted for 17 percent of the state’s taxable sales base this year, according to the department.
Nevada’s fledgling marijuana industry has taken off significantly faster than state officials anticipated. Now state regulators are scrambling to catch up.
Gov. Brian Sandoval’s 12-member Gaming Policy Committee is poised to uphold the state’s previously approved stance that licensed gaming companies not have business relationships with Nevada’s marijuana industry.
Nevada wants to be the nation’s gold standard for marijuana regulation, and last week it got the chance to show off its mettle to visitors from the Garden State.
Sandoval, who appointed Contine as the director of the Tax Department in Nov. 2014, praised her as someone he could trust with difficult of tasks.
Nevada regulators are cracking down on marijuana testing labs, as nearly half of the state’s marijuana labs have had their license suspended in the last five months.