Nevada’s recreational cannabis stores netted a total of $35M in total sales over the month of February. The state has generated a total of $6M in taxes from those sales which made February the third most profitable month since the state legalized the commercial sale of marijuana last year.
Some of those funds are put back into managing the new cannabis program in the state and another small portion of it will be split amongst local governments. An executive from the Department of Taxation in Nevada believe that this was attributed to a number of events that occurred that in February, like the NFL Super Bowl.
Nevada has generated $41M in taxes so far which has been set aside mostly for state wide emergency funds. Some politicians in the state believe that the tax revenue generated from legal cannabis sales should be allocated to provide funding for Nevadas public school system. The Governor of Nevada Brain Sandoval will introduce the topic up for debate sometime next year.
You may be interested
MedMen to Sell Three Retail Locations to Treehouse Real Estate for $12.5MEditor - October 19, 2018
MedMen Enterprises Inc. (CSE: MMEN) (OTCQB: MMNFF) announced this week that the company has agreed to sell three seperate cannabis retail locations to Treehouse Real Estate Investment…
CashCropToday | 411/420 | Cannapreneur Bo Money Discusses Events For Social Equity Plan (Part 3)Jaelynn Offerman - October 18, 2018
Host Joya Italiano continues her discussion with cannapreneur and social equity advocate, Bo Money. Bo reveals upcoming plans stored in place and discusses the reasoning behind the…
Public Companies iAnthus & MPX Bioceutical Announce Official MergerEditor - October 18, 2018
iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCQX: ITHUF), and MPX Bioceutical Corporation (CSE: MPX) (OTC: MPXEF) have announced this morning that the companies signed an agreement to merge…