Nevada Marijuana Sales Are Starting To Show Steady Pace

LAS VEGAS, NV - In the first month of 2018, recreational marijuana sales in Nevada maintained the steady figures the industry has seen since October. The last four months of reported tax revenue totals are relatively consistent and paint a picture of what Nevada's industry might look like in the long term.

The Nevada Department of Taxation released sales totals for January, showing the state collected $5,541,751 in tax revenue for the month. Of that amount, $2,263,941 came from a 15 percent tax on wholesale cannabis, and $3,277,811 came from a ten percent retail tax. Total sales statewide for recreational marijuana topped $32 million.

As the industry has steadied, the tax money collected by the state of Nevada has followed a consistent theme over the last four months of reported sales. It's the fourth straight month the state has collected at least $5.5 million in total tax revenue. This is the breakdown since October:

• Tax dollars generated from 15 percent wholesale tax
  • October 2017: $2,042,651
  • November 2017: $2,164,991
  • December 2017: $2,189,794
  • January 2018: $2,263,941
• Tax dollars generated from 10 percent retail tax
  • October: $3,796,685
  • November: $3,341,076
  • December: $3,576,900
  • January: $3,277,811
• Total tax dollars generated
  • October: $5,839,336
  • November: $5,506,067
  • December: $5,766,694
  • January: $5,541,751

Comparatively, the first three months of sales were more volatile.

• Tax dollars generated from 15 percent wholesale tax
  • July 2017: $974,060
  • August 2017: $1,509,668
  • September 2017: $1,948,914
• Tax dollars generated from 10 percent retail tax
  • July: $2,708,713
  • August: $3,351,973
  • September: $2,771,370
• Total tax dollars generated:
  • July: $3,682,773
  • August: $4,861,641
  • September: $4,720,284

The reported sales totals in January also follow another trend that has emerged: Nevada continues to sell over $1 million of retail marijuana each day. Since sales began last July, the state of Nevada has collected just under $36 million in tax revenue, and customers have spent over $228 million at Nevada's dispensaries.

Image via John Locher/Associated Press