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Nevada’s cannabis tax revenue is expected to hit $70 million mark this year
Author: Alice  07/08/2018 - 15:20:00

Two years ago when

How will this revenue be spent - Image powered by Redbubble.com

Stakeholders are happy with the hefty amount of tax collections. A large chunk of this money will go back into streamlining the cannabis industry. The state and local governments will use up to $45 million of this revenue to fund different aspects of the legal weed program.

This amount will actually be deducted from the share allocated for the state’s public schools as per cannabis laws. The lawmakers added a provision while formulating the cannabis laws that the 15 percent wholesale tax would be used to fund the education sector.  On the other hand, 10 percent retail excise tax collected from the sales of medical marijuana sales would be put in the state’s rainy day fund.

The post Nevada’s cannabis tax revenue is expected to hit $70 million mark this year appeared first on I Love Growing Marijuana.

Original article from ilovegrowingmarijuana.com: Nevada’s cannabis tax revenue is expected to hit $70 million mark this year

..

Stakeholders are happy with the hefty amount of tax collections. A large chunk of this money will go back into streamlining the cannabis industry. The state and local governments will use up to $45 million of this revenue to fund different aspects of the legal weed program.

This amount will actually be deducted from the share allocated for the state’s public schools as per cannabis laws. The lawmakers added a provision while formulating the cannabis laws that the 15 percent wholesale tax would be used to fund the education sector.  On the other hand, 10 percent retail excise tax collected from the sales of medical marijuana sales would be put in the state’s rainy day fund.

The post Nevada’s cannabis tax revenue is expected to hit $70 million mark this year appeared first on I Love Growing Marijuana.

Original article from ilovegrowingmarijuana.com: Nevada’s cannabis tax revenue is expected to hit $70 million mark this year



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