May 23, 2018 - 10:54 am
Updated May 24, 2018 - 10:31 pm
Move over, sagebrush; Nevada might have a new state flower.
Recreational marijuana sales topped $41 million in March, the highest number since legal sales began statewide in July.
That translates into $7.09 million in tax revenue in March from marijuana, according to a state Department of Taxation release Wednesday.
“March numbers continue to point to a strong likelihood that Nevada will close out the fiscal year this June with much more robust marijuana revenue collections than anticipated,” department executive director Bill Anderson said in a statement.
To date, recreational marijuana taxable sales have totaled $304.73 million.
Taxable sales for marijuana and marijuana-related goods for medical or recreational purposes totalled $385.99 million for the first nine months of the fiscal year, which ended March 31.
The marijuana flower, or bud, accounted for half of purchases by consumers, either for medical or recreational purposes. Concentrates accounted for a quarter of sales. Infused edibles accounted for 13 percent.
Marijuana tax revenues for the state totaled $48.97 million in the first nine months of the fiscal year.
February is now the second-largest month for sales.
For the fiscal year:
— $18.5 million came from the wholesale marijuana tax paid by cultivators of medical and recreational marijuana
— $30.47 million came from the retail marijuana tax paid by consumers of recreational marijuana
Marijuana-related fees, penalties and assessments have generated $10.2 million to date.
Contact Wade Tyler Millward at 702-383-4602 or wmillward @reviewjournal.com. Follow @wademillward on Twitter.