Nevada marijuana sales start new fiscal year with monthly record – KTNV Las Vegas

CARSON CITY (AP) – Nevada kicked off the first month of the new fiscal year with its biggest monthly marijuana sales since the state legalized pot for recreational use on July 1, 2017.

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The Nevada Tax Department said Tuesday the $7.9 million in marijuana tax revenue in July was 11 percent higher than Fiscal Year 2018’s three best months — March, May and June of 2018 — all at about $7.1 million.

It was a 92 percent gain from the inaugural month of sales in July 2017, $4.1 million.

State tax revenue from pot sales exceeded projections last fiscal year by 140 percent, a total of $69.8 million.

For fiscal year 2019 ending next June 30, the department officially anticipates $69.4 million in revenue. But officials say that projection made in 2017 hasn’t been adjusted to reflect last year’s actual collections.

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