{"id":50464,"date":"2021-10-13T11:37:58","date_gmt":"2021-10-13T19:37:58","guid":{"rendered":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2021\/10\/13\/nevada-sold-more-than-1-billion-in-marijuana-in-one-year-officials-report\/"},"modified":"2021-10-13T13:45:39","modified_gmt":"2021-10-13T21:45:39","slug":"nevada-sold-more-than-1-billion-in-marijuana-in-one-year-officials-report","status":"publish","type":"post","link":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/2021\/10\/13\/nevada-sold-more-than-1-billion-in-marijuana-in-one-year-officials-report\/","title":{"rendered":"Nevada Sold More Than $1 Billion In Marijuana In One Year, Officials Report"},"content":{"rendered":"

<\/p>\n

Nevada retailers sold more than $1 billion in medical and recreational marijuana over a one-year period, state officials announced on Wednesday.<\/p>\n

The Nevada Cannabis Compliance Board (CCB) and the Nevada Department of Taxation released the data, which shows $1,003,467,655 in taxable cannabis purchases in Fiscal Year 2021, which ran from July 1, 2020 to June 30, 2021.<\/p>\n

By contrast, total marijuana sales for the prior 2020 fiscal year amounted to $685 million.<\/p>\n

\n

This is what Nevadans expected since the legalization of recreational marijuana. Education remains one of my top priorities, and I\u2019m proud to see promised tax revenue from cannabis sales directly funding our students and classrooms. https:\/\/t.co\/iy64R47v4G<\/a><\/p>\n

\u2014 Governor Sisolak (@GovSisolak) October 13, 2021<\/a><\/p>\n<\/blockquote>\n

\n

The bulk of the marijuana purchases ($791,100,017) came from Clark County, where Las Vegas is located. Another $135,326,790 of cannabis was sold in Washoe County, with Reno being the major city in that jurisdiction. The $77,040,859 remainder came from other counties.<\/p>\n

Ten percent of tax revenue from recreational cannabis sales will support pubic education funding, as prescribed under a bill that Gov. Steve Sisolak (D) previously signed<\/a>.<\/p>\n

\u201cThis is what Nevadans expected since the legalization of recreational marijuana,\u201d the governor said in a press release about the new sales data. \u201cEducation remains one of my top priorities, and I\u2019m proud to see promised tax revenue from cannabis sales directly funding our students and classrooms.\u201d<\/p>\n

Sisolak also signed a bill in June to legalize marijuana consumption lounges<\/a> in the state.<\/p>\n

The new social use license types statewide and giving consumers this option\u2014especially in the tourist-centric state\u2014could further boost marijuana and other tax revenues.<\/p>\n

The governor has also committed to promoting equity and justice in the state\u2019s marijuana law. Last year, for example, he\u00a0pardoned more than 15,000 people<\/a>\u00a0who were convicted for low-level cannabis possession.<\/p>\n

That action was made possible under\u00a0a resolution the governor introduced<\/a>\u00a0that was unanimously approved by the state\u2019s Board of Pardons Commissioners.<\/p>\n

\u2014
\nMarijuana Moment is already tracking more than 1,200 cannabis, psychedelics and drug policy bills<\/a> in state legislatures and Congress this year. Patreon supporters<\/a> pledging at least $25\/month get access to our interactive maps, charts and hearing calendar so they don\u2019t miss any developments.<\/strong>
\n\"\"<\/a>
\nLearn more about our marijuana bill tracker<\/a> and become a supporter on Patreon<\/a> to get access.
\n\u2014<\/strong><\/strong><\/p>\n

Meanwhile, states across the U.S. have been touting marijuana sales and the resulting tax revenue as markets continue to mature.<\/p>\n

For example, Illinois marijuana retailers have sold nearly $1 billion worth of legal recreational cannabis products<\/a> so far in 2021, officials recently reported.<\/p>\n

Maine recreational marijuana sales\u00a0broke another marijuana sales record in August<\/a>, exceeding $10 million for the first time\u00a0since the adult-use market launched in October 2020<\/a>.<\/p>\n

Arizona brought in about\u00a0$21 million in medical and adult-use marijuana tax revenue<\/a> in July, state officials reported on a new webpage that enables people to more easily track how the industry is evolving.<\/p>\n

California collected\u00a0about $817 million in adult-use marijuana tax revenue<\/a>\u00a0during the 2020-2021 fiscal year, state officials estimated in August. That\u2019s 55 percent more cannabis earnings for state coffers than was generated in the prior fiscal year.<\/p>\n

A recent scientific analysis of sales data in Alaska, Colorado, Oregon and Washington State found that marijuana purchases \u201chave\u00a0increased more during the COVID-19 pandemic<\/a>\u00a0than in the previous two years.\u201d<\/p>\n

In July alone, at least\u00a0three states saw record-breaking sales<\/a>\u00a0for recreational cannabis. The same goes for Missouri\u2019s medical marijuana program.<\/p>\n

Michigan\u00a0marijuana sales broke another record in July<\/a>\u00a0with more than $171 million in cannabis transactions, according to data from the state\u2019s regulatory body. There were $128 million in adult-use sales and $43 million in medical cannabis purchases.<\/p>\n

Throughout the pandemic, many states allowed cannabis retailers to remain open\u2014with governors and regulators in several markets\u00a0declaring marijuana businesses to be essential services<\/a>\u2014and some jurisdictions issued emergency rules allowing curbside pickup, delivery services or other more relaxed policies in order to facilitate social distancing.<\/p>\n

Meanwhile, New York officials are\u00a0projecting that marijuana tax revenue<\/a>\u00a0will help keep the state\u2019s budget afloat as cigarette sales continue to decline over the coming years. But retails sales have yet to launch as of now.<\/p>\n

Read the marijuana sales data that Nevada officials released below:\u00a0<\/strong><\/p>\n

\n

Click to access ccb-dot-cannabis-taxable-sales-data-fy21.pdf<\/a><\/p>\n

\n

Top Federal Drug Official Gives Maryland Lawmakers Marijuana Legalization Advice At Workgroup Hearing<\/a><\/p>\n<\/blockquote>\n

\n

The post Nevada Sold More Than $1 Billion In Marijuana In One Year, Officials Report<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n


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\nRead More: Nevada Sold More Than Billion In Marijuana In One Year, Officials Report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nevada retailers sold more than $1 billion in medical and recreational marijuana over a one-year period, state officials announced on Wednesday. The Nevada Cannabis Compliance Board (CCB) and the Nevada Department of Taxation released the data, which shows $1,003,467,655 in taxable cannabis purchases in Fiscal Year 2021, which ran fromContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":50465,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1335,18],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/50464"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/458"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=50464"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/50464\/revisions"}],"predecessor-version":[{"id":50466,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/50464\/revisions\/50466"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media\/50465"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=50464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=50464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=50464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}