Medical marijuana generates more than $229,000 in Nevada sales tax
RENO, Nev. (News 4 & Fox 11) —
Medical marijuana has generated more than $229,000 in sales taxes since it was legalized in Nevada in July, according to data from the state.
A 2 percent sales tax is applied to every sale a medical marijuana dispensary makes. Seventy-five percent of the revenue collected, or $171,949.19 total, has gone to an account for schools, while the remaining 25 percent, or $57,316.66, goes to the state health division, according to data from the Nevada Department of Taxation.
Will Adler, representative for the Nevada Medical Marijuana Association, told News 4 that at least two-thirds of legal marijuana sold in Nevada goes to out-of-state residents.
Nevada has a reciprocity law, which allows dispensaries to recognize marijuana cards from other states.
Adler said he believes the reciprocity law is fueling the state's medical marijuana industry and goes hand-in-hand with Nevada's tourism industry.
He added that Nevada could also be selling so much marijuana to people form out-of-state is that it's difficult to get a medical marijuana card in Nevada compared to other states.