Nevada Recreational Marijuana Sales Reach $41M In March

Photo Credit: MGN Online

Move over sagebrush, Nevada may have a new state flower.

Recreational marijuana sales topped $41 million in March, the largest since legal sales began statewide in July.

That translates into $7.09 million in tax revenue in March from marijuana, according to a state Department of Taxation release Wednesday.

“March numbers continue to point to a strong likelihood that Nevada will close out the fiscal year this June with much more robust marijuana revenue collections than anticipated,” department executive director Bill Anderson said in a statement.

Most sales for the flower

To date, recreational marijuana taxable sales have totaled $304.73 million.

Total taxable sales for marijuana and marijuana-related goods for medical or recreational use is $385.99 million for the first nine months of the fiscal year.

The marijuana flower or bud accounted for half of all purchases by consumers, either for medical or recreational purpose. Concentrates accounted for a quarter of sales. Infused edibles accounted for 13 percent.

Marijuana tax revenues for the state totaled $48.97 million in the first nine months of the fiscal year.

February is now the second largest month for sales.

For the fiscal year:

—$18.5 million came from the wholesale marijuana tax paid by cultivators of medical and recreational marijuana

—$30.47 million came from the retail marijuana tax paid by consumers of recreational marijuana

Marijuana-related fees, penalties and assessments have generated $10.2 million to date.