CARSON CITY, Nev. – Nevada retailers reported greater than $1 billion in medicinal and leisure gross sales between July 1, 2020, and June 30, 2021, in keeping with a report from the Department of Taxation and the Cannabis Compliance Board. The determine almost doubles the $685 million in hashish retail gross sales in the course of the earlier twelve-month interval.

As could be anticipated, Clark County—house to Las Vegas—contributed the lion’s share of the proceeds: $791 million, which tops the gross sales quantity for the whole state in the course of the earlier yr. Washoe County, house to Reno, boasted the second-highest quantity at $135 million.

The state collects a 10-percent excise tax on leisure gross sales and a 15-percent tax on wholesale gross sales; these monies are earmarked by regulation for public schooling. So, for FY 2021, the state’s schooling fund obtained an infusion of about $159 million. School districts might obtain a windfall when the primary licensed consumption lounges open in 2022.

Nevada isn’t alone within the $1-billion-in-sales membership. Illinois officers stated retailers of their state have bought that a lot leisure hashish alone up to now this yr.

The nation’s greatest market, California, collected about $817 million in adult-use excise taxes throughout fiscal yr 2021, which ended June 30 — a 55-percent enhance over the earlier yr’s income.



Source link